Prime Minister Imran Khan has directed to ban on export of sugar in a wake of increase in sugar prices and to reduce artificial shortage.
According to the details, the Prime Minister has made a big decision to ban Sugar export.
The Prime Minister has directed the Economic Coordination Committee not to export the remaining quota of 1100 million tonnes of sugar and import 3 million tonnes of sugar to the Commerce Division at the federal level.
Following the Prime Minister’s directive, the Ministry of Industry and Production has asked the Commerce Division to approach the Economic Coordination Committee for not exporting the remaining quota of 1,100 million tonnes of sugar.
According to institutional statistics, the weekly national retail price of sugar is Rs 79.06 per kg, while according to international sugar organizations, the price is currently Rs 62.60 per kg.
At the federal level, the Commerce Division has been asked to import 300 million tonnes of sugar without tax and import duty. imported Sugar will be available at cheaper rates than domestic production.
Earlier, Sindh has demanded of the federal government to block wheat and sugar exports in view of the prevailing shortages that have led to a spike in the prices of these commodities and their products, a statement said on Wednesday.
Sugar prices have jumped to Rs80/kilogram at retail shops in Karachi. Industry officials said the wholesale rate of sugar is expected to reach Rs80/kilo next week.
Rising food prices, particularly of sugar and wheat flour, present one of the toughest challenges for the government. On Monday, January 20, the government allowed duty-free import of 300,000 tons of wheat to arrest a runaway price.