The Ministry of Finance has announced measures to ensure the implementation of retail and wholesale sugar prices. According to sources within the ministry, the government will closely monitor any increase in sugar prices and will continuously assess the factors contributing to such hikes.

A daily review of sugar prices will be conducted to keep track of any changes. Additionally, the Ministry of Industries will keep the Ministry of Finance informed about the developments related to sugar prices.

These steps are part of the government’s efforts to stabilize the market and prevent undue price increases that could affect consumers.

It is worth mentioning that the Economic Coordination Committee of the Cabinet had approved the summary of the Ministry of Industries & Production regarding the export of further 0.100 million MT of sugar with the following conditions:

Given procedural delays encountered during the export of sugar, the period allowed for the export of sugar from the date of allocation of quota by the respective Cane Commissioner shall be extended from forty-five (45) days to sixty (60) days.

Export proceeds shall be received in advance in the case of Afghanistan only through banking channels however, export proceeds in the case of LC may be allowed within 60 days of the opening of LC for the export of sugar to other destinations.

Benchmark for the Retail Price of sugar may be delinked from the permission to export sugar as the retail price is not directly under the control of sugar mills.

Lastly, the condition of revoking of export quota in case of non-payment of dues of the growers from proceeds of export of sugar shall apply only to the non-compliant mills rather than PMSA as a whole.

The committee decided to monitor the market situation every month and review its decision as per emerging needs and instructed the Sugar Advisory Board to develop a comprehensive sugar policy within two months to address the sector’s challenges and ensure sustainable growth.