🔊 Listen to ArticleThe Pakistan Tehreek Insaf (PTI) government will import at least 300,000 tons of refined sugar in an attempt to control surging prices of the commodity that have been hounding the market. Sources informed Profit that the decision had been taken a few days ago in a meeting of the Sugar Advisory Board (SAB). Presently, the average retail price of sugar as of January 30 2019 is Rs 79.06/Kg as per Pakistan Bureau of Statistics (PBS). Presently, according to the International Sugar Organization, the international white sugar price should be Rs.62.60/ kg. At federal level, TCP, Commerce Division can import sugar for domestic use with no tax and duties that would make imported sugar cheaper than domestically produced sugar and ease the situation so keeping in view, the ministry of industries and production has asked the TCP to import 300,000 tons of refined sugar in order to maintain strategic reserve of sugar.

Source: Pakistan Today February 01, 2020 09:22 UTC