Cabinet Approves Sugar Import to Stabilize Prices

The federal cabinet has officially approved a sugar import plan, under which 500,000 tons of sugar will be brought in through the government sector to stabilize domestic prices, the Ministry of Food Security announced on Monday.

According to the ministry, all necessary arrangements for this sugar import initiative have been completed, and immediate implementation is already underway. Officials noted that this approach is more effective than previous strategies, which often resulted in artificial shortages and imposed heavy subsidy costs on the national budget.

The ministry highlighted that the current government had earlier permitted sugar exports when there was ample domestic supply, demonstrating a balanced policy to manage market dynamics. Now, by approving sugar imports, the administration aims to keep prices steady and protect consumers from sudden hikes.

In the first 11 months of the current fiscal year, Pakistan exported a remarkable 765,734 metric tonnes of sugar, earning Rs114 billion – a 2,200% increase compared to the previous year. This was followed by the government’s decision to import 750,000 metric tonnes, comprising 250,000 metric tonnes of raw sugar and 500,000 metric tonnes of refined sugar.

This coordinated plan, according to the Ministry of Food Security, will help ensure market stability without burdening public finances, unlike older measures that relied on subsidies to offset shortages.