A substantial crackdown on sugar hoarders has been initiated as part of the government’s ongoing efforts to stabilize sugar prices. This move has seen significant results, with sugar mill owners proposing to sell sugar to the Punjab government at Rs 140 per kg. This proposal was made shortly after the provincial government approached the Lahore High Court, seeking to overturn a previous status quo order that restrained provincial authorities from setting sugar prices.
Due to the rigorous administrative action against hoarders, sugar prices have notably declined in several regions. In towns like Chaman and Balochistan, the prices have dipped from Rs 235 per kg to Rs 180 per kg. Likewise, Karachi witnessed a Rs 15 per kg reduction over the past three days, bringing the cost between Rs 170 and Rs 180 per kg across various Punjab towns.
A Step Towards Stability
After three days of deliberation, the Punjab government and sugar mill owners agreed on Sunday to establish a more balanced market. According to the agreement announced in a meeting led by caretaker Chief Minister Mohsin Naqvi, sugar millers have committed to providing sugar to the public at Rs 140 per kg. This would be facilitated through special stalls set to be established in model and Sunday bazaars across the province.
Representatives of the industry, including Haroon Akhtar, Zaka Ashraf, and Fawad Mukhtar, participated in the discussions alongside Punjab Industries Minister S.M. Tanveer and Chief Secretary Zahid Akhtar Zaman. Furthermore, a consensus was reached to initiate the cane-crushing season from October 28. However, it remains unclear whether this date applies to mills across Punjab or is restricted to south Punjab, adhering to previous traditions. To foster consistency, the Punjab government outlined specific start dates for the crushing season in different regions last year, as stipulated by the Punjab Sugar Factories (Control) Act of 1950.
