Deputy Prime Minister Ishaq Dar reaffirmed the government’s commitment to controlling sugar prices and monitoring supply in a meeting on Friday. Despite the government’s efforts to set retail prices at Rs130 per kilogram, sugar prices continue to rise, reaching over Rs180 per kg in several markets.
Dar had previously warned that prices should not exceed Rs164 per kg. However, consumers are still facing high sugar prices, with the average cost ranging between Rs164-180 per kg across the country. During the meeting, Dar expressed his determination to resolve the sugar crisis.
Dar directed the Pakistan Sugar Mills Association (PSMA) to ensure strict adherence to the agreement, which sets retail prices at or below Rs164 per kg. The government is also focused on regulating the sugar supply to stabilize prices. The sugar consumption is expected to rise to 6.7 million tonnes due to population growth and increased demand from the food processing sector.
The Competition Commission of Pakistan (CCP) is closely monitoring the situation. The CCP previously found evidence of price-fixing and supply control among sugar mills. In 2021, it imposed a record fine of Rs44 billion on sugar mills and the PSMA for anti-competitive practices. The CCP vowed to take strict action if such practices continue.