ISLAMABAD Due to pressure from domestic millers and growing concerns from the International Monetary Fund (IMF) over policy violations linked to the $7 billion loan program, the state-run Trading Corporation (TCP) has drastically reversed its policy and reduced its sugar import tender from 300,000 metric tons to just 50,000 metric tons, according to a report published by The News on Wednesday.
The TCP’s action, which was declared in an official corrigendum, follows a covert agreement between the federal government and Pakistan’s influential sugar millers, many of whom are members of parliament, to increase the price of ex-mill sugar from Rs159 to Rs165 per kilogramme.
The bid opening date has also been postponed by the body to July 22, 2025.
