The Government is vigilant regarding the stocks and availability of sugar in the country. Current price hike of sugar in the market is artificially caused due to the smuggling, hoarding, and market manipulations for profiteering. Presently, adequate stocks of sugar are available in the country. At the start of crushing season, there was a carry forward stock of 0.99 MMT from the last crushing season of 2021-2022, during the current crushing season 6.74 MMT of sugar is produced in the country. Estimated monthly national consumption is 0.60 MMT/month. There are verified balance stocks of sugar of 1.815 MMT with the sugar mills (excluding the stocks in trade), which are sufficient till start of next crushing season in November, 2023 against total requirement of 1.800 MMT till the end of November, 2023. All the four provinces have confirmed the availability of sugar stocks in today’s National Price Monitoring Committee Meeting. Capt. (R) Muhammad Mahmood, Secretary MNFS&R said today. He clarified that Government has no plan to import sugar, in this regard letter of Trading Corporation of Pakistan is being misquoted. Ministry of National Food Security & Research has already requested to the Provincial Governments for price fixation and its enforcement, as per law and strict action against hoarders and price manipulators, who are creating panic in the market for their own vested interests. Sugar hoarders should immediately release the stocks as per the demand of the market to stabilize the commodity price. Government has also initiated action against all the elements involved in smuggling of the commodity, in this regard Ministry of Interior has already initiated action. Government is closely monitoring the sugar stocks, consumption, availability and market price in the best public interest.
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