Food minister rebuts reports about sugar price discrepancies – Markets

Federal Minister for National Food Security and Research Rana Tanveer Hussain on Tuesday refuted concerns regarding the discrepancies in sugar pricing, stressing that the agreed rates must be enforced uniformly across the country, the ministry said in a statement.

Chairing a high-level meeting in Islamabad, Tanveer categorically refuted claims of price manipulation, stating that the Pakistan Sugar Mills Association (PSMA) had set the wholesale price at Rs159 per kg, with provincial authorities responsible for ensuring compliance. He stressed that any deviation from this agreed rate would not be tolerated.

During the meeting, Punjab officials confirmed that the wholesale price of sugar stands at Rs159 per kg, while the retail price averages Rs164 per kg, supported by district-wise data from the provincial commodity price management system.

Sindh representatives reported a retail price of Rs168 per kg, citing figures from the Sindh Bureau of Prices.

Khyber Pakhtunkhwa authorities noted that the ex-mill price remains at Rs164 per kg, prompting the minister to instruct the strict enforcement of the Rs159 per kg wholesale rate in line with the PSMA agreement.

Meanwhile, Balochistan representatives indicated a downward trend in sugar prices, with the current rate at Rs168 per kg.

Hussain underscored the need for rigorous monitoring and enforcement, directing all provincial governments to ensure strict adherence to the agreed wholesale price of Rs159 per kg and a retail price cap of Rs164 per kg. He instructed officials to implement daily price checks and take action against any violations.

Reaffirming the government’s resolve, the minister stated that Prime Minister Shehbaz Sharif’s administration remains committed to protecting consumer interests, preventing market manipulation, and ensuring price stability.

He assured that the Ministry of National Food Security & Research would continue working in close coordination with provincial authorities to safeguard food security and curb artificial inflation.