The government of Pakistan has approved the import of 500,000 tons of sugar to stabilize the rising prices in the local market. This step is aimed at ensuring a steady supply of sugar across the country and preventing shortages that could hurt consumers.
All necessary arrangements for the import have been finalized. Officials confirmed that the procurement process will begin immediately to avoid any disruption in sugar availability.
This decision came after a high-level meeting chaired by Finance Minister Ishaq Dar. The cabinet reaffirmed earlier recommendations to permit sugar import due to increasing demand and inflationary pressures.
A spokesperson for the food security ministry said that this import strategy is different from past practices. In previous years, artificial shortages were created, and heavy subsidies burdened the national exchequer. However, this government allowed sugar exports when there was a surplus and is now focused on importing only the actual amount needed.
The government’s approach aims to prevent market manipulation and keep sugar prices affordable for consumers. The spokesperson emphasized that the current import plan is a proactive measure to protect consumer interests and maintain market stability.
This move comes amid growing inflation and public concern over the rising costs of essential goods like sugar and fuel. Earlier this week, the Supreme Court Bar Association also expressed alarm over sharp price hikes and urged the government to take urgent steps to ease the burden on citizens.
Authorities hope that the sugar import will help stabilize prices in the coming months and support economic stability. The government continues to monitor market conditions closely to ensure that supply meets demand.
Following the recent budget announcement, prices of luxury vehicle imports have dropped significantly. Read more about the impact on the market in this detailed report: Luxury Vehicle Import Prices Plummet Following Budget Announcement.
