ISLAMABAD: The Sugar Advisory Board on Monday approved the import of 500,000 tonnes of sugar in a bid to stabilise prices and address the ongoing supply shortage across the country.
According to a statement issued by the board, the decision was taken during a key meeting of the board held under the chairmanship of Minister for National Food Security and Research Rana Tanveer Hussain.
The approval for imports comes amid a growing public outcry over record-high sugar prices in local markets, with rates reportedly touching Rs195 per kilogram in some cities, fuelling public outcry and raising concerns about unchecked profiteering by sugar cartels.
According to the latest data released by the Pakistan Bureau of Statistics (PBS) the maximum price of sugar in the country has reached Rs195 per kg. The average national price of sugar has risen by Rs3.77 in just one week, pushing the rate to Rs180.93 per kg compared to Rs177.16 the previous week.
Islamabad recorded the highest sugar prices: Rs195 per kg. In Rawalpindi, Karachi, and Peshawar, the commodity is retailing at Rs190 per kg, while prices in Quetta and Khuzdar hover around Rs186 and Rs185, respectively.
Speaking at the meeting, Rana Tanveer said the decision to import sugar was unavoidable given the shortfall in supply and soaring market prices.
He assured that the imported sugar would be brought into the domestic market promptly to provide relief to consumers.
Since the sugar prices started gaining momentum in the country in February, the government gave repeated assurances and claimed to be making splendid efforts to curb rising prices, but the facts on the ground tell a different story.
It approved the export of 765,000 metric tonnes of sugar between June and October 2024, generating over Rs112 billion in revenue. This nearly 2,200 per cent surge in exports has largely contributed to the domestic shortage and soaring prices
At the time of permitting exports, the government had stated that if the retail price of sugar exceeded Rs145.15 per kilogram, exports would be halted. However, despite the surge in prices, sugar exports reportedly continued from December 2024 to February 2025, during which prices steadily rose.