Pak govt to import sugar at PKR 220 per kg to address looming crisis: Report

Pakistani government to import 1 million metric tonnes of sugar due to domestic shortage caused by misleading information.

Published on: Aug 31, 2023, 07:57:43 IST

By HT News Desk

Prefer HTon Google

Share via

Copy link

The Pakistani government has taken the decision to import 1 million metric tonnes of sugar to address the shortage caused by deceptive information provided by sugar mill owners, who falsely claimed that the country had a satisfactory domestic stock. This misleading assurance has led to a crisis, prompting the government to take this step, as reported by Geo News.

The sugar will be imported at an inflated price of PKR 220 per kilogram. (Representative image)

The sugar will be imported at an inflated price of PKR 220 per kilogram, and this additional cost will be borne by the already burdened population, struggling with inflation and now faced with the prospect of soaring prices, according to the report.

The current predicament is a direct result of sugar mill owners' misrepresentation, which led the government to grant permission for sugar exports based on their claims of a substantial domestic supply, the report said. This manipulation of information has resulted in the alarming situation Pakistan is grappling with today.

Despite having a surplus stock of nearly 1 million metric tonnes of sugar, the Punjab Food Department has issued a warning about a looming sugar crisis in the near future.

Authorities are now left with the only option of using the excess stock to mitigate the crisis. However, this action will inevitably introduce imported sugar into the market, compelling consumers to pay PKR 220 per kg for sugar instead of the official price of PKR 100 per kg.

According to information from sources quoted by Geo News, the Trading Corporation of Pakistan (TCP) has already communicated with Pakistan's commercial attaché in Brazil, initiating steps to secure the import of 100,000 metric tonnes of sugar from the South American nation.

ABOUT THE AUTHOR
HT News Desk
Follow the latest breaking news, major developments and agenda-setting stories from India and around the world with the newsdesk at Hindustan Times. Operating round the clock, the desk brings together experienced editors, reporters and correspondents to deliver fast, accurate and contextual reporting across subjects that influence public policy, governance, business, society and international affairs. The HT News Desk covers politics, elections, government policies, the economy, business and markets, science and technology, the environment, law and order, infrastructure, education, climate issues and geopolitics, while closely tracking developments across states, institutions and global capitals. The team also leads coverage of major breaking news events, policy announcements, court proceedings, natural disasters, public emergencies and significant international developments. Reports published by the newsdesk are based on information gathered from reporters on the ground, official statements, government agencies, court records, regulatory filings, recognised institutions and other authoritative sources. Stories undergo editorial scrutiny and verification processes to ensure accuracy, fairness and relevance, and are updated as events evolve and additional information becomes available. Whether covering a key political decision in New Delhi, an economic policy shift affecting millions, a landmark court ruling or a major global event, the HT News Desk aims to provide readers with reliable, fact-based journalism that delivers not only the latest developments but also the context and analysis needed to understand their wider implications.Read More

Get the latest World News, breaking headlines and global updates from the US, UK, Pakistan, Bangladesh, Russia and other countries. Follow major international events on Hindustan Times.