The Ministry of National Food Security & Research announced on Monday the ex-mill price of sugar had been fixed at Rs165 per kilogramme (Kg) after successful negotiations between the government and the sugar industry.
The government directed all provincial governments to ensure that sugar was sold in line with the new rate.
“All provincial governments should ensure the availability of cheap sugar to the public,” the ministry said.
The development comes days after Pakistan’s state agency, the Trading Corporation of Pakistan (TCP), issued an international tender to purchase and import 300,000 to 500,000 metric tons of white refined sugar.
The deadline for submission of price offers is July 18. On July 8, Pakistan’s government had approved plans to import 500,000 tons of sugar to help maintain price stability.
Market analysts said that retail sugar prices in the country have risen sharply since January.
The sugar is sought from worldwide origins, packed in bags with a minimum offer of 25,000 tons permitted.
The TCP reserves the right to purchase more or less than the tender volumes, traders said. Shipment is sought in a series of consignments loading in August.
