To balance the market and help consumers, the Sugar Advisory Board (SAB) on Monday authorized the import of 500,000 tons of sugar in response to rising local sugar prices.
According to an official release, Federal Minister for National Food Security and Research Rana Tanveer Hussain presided over a high-level meeting that made the decision.
The advisory board agreed to put in place stringent monitoring procedures to guarantee supply and pricing stability and blamed the current price spike on uncontrolled pricing practices by sugar mill owners.
According to Rana Tanveer Hussain, “the formalities related to sugar import will be completed within a few days.” He added that the decision was “inevitable” because of the continuous supply shortage that caused the price to rise.
