ISLAMABAD: The National Assembly Standing Committee, headed by Jawed Hanif Khan, has launched a detailed investigation into the recent sugar price surge and its trade patterns. The committee suspects foul play and emphasized that criminal action should be taken if any wrongdoing is proven. Khan also raised concerns over possible links between sugar industry players, politicians, and bureaucrats.
To address this, a sub-committee has been formed to examine the issue of duty- and tax-free sugar imports that followed significant exports. Lawmakers from both the opposition and treasury benches backed the probe. They agreed that all relevant departments and ministries would be called in to provide data and insights on the sugar trade chain and its beneficiaries.
Meanwhile, the Pakistan Sugar Mills Association (PSMA) has agreed to an ex-mill sugar price of Rs165 per kilogram. This update came from the Commerce Ministry’s Additional Secretary Salman Mufti during the committee meeting. The move is expected to bring some stability to sugar prices, which have caused widespread concern among consumers and regulators.
In the same session, the Commerce Ministry presented its upcoming trade policy, setting a $60 billion export target by 2029. However, PML-N lawmaker Shaista Pervaiz Malik criticized the target, calling it unrealistic due to increasing energy costs and a weakening economy that has forced many industries to shut down.
Responding to concerns, Trade Policy Director General Shafiq A. Shehzad admitted past export goals were missed but noted a steady $5 billion yearly growth. He also pointed out challenges like low export surplus, poor competitiveness, and climate change effects on agriculture that limit Pakistan’s export potential.
Furthermore, discussions covered the car import policy, with officials confirming that new cars with reduced duties are allowed. However, the government will not permit five-year-old used car imports. A new auto policy aimed at improving standards and regulations is expected by July 2026.