ISLAMABAD, Aug 1 – Federal Minister for National Food Security Rana Tanveer Hussain has defended the government’s decision to import 500,000 metric tons of sugar costing $150 million. The move is vital to maintain market stability.
At a press conference in Islamabad, Hussain said sugar stocks are currently sufficient, with reserves totalling 2 million metric tons—including a 0.5 million ton buffer—adequate to meet domestic needs. He asserted that prices remains under control.
READ MORE: Govt Slashes Sales Tax on Sugar Import
The minister blamed stockists and hoarders for artificially inflating prices and warned of strict action, including placing names of those involved in sugar hoarding on the Exit Control List (ECL). “People will see the heat very soon,” he warned, hinting at a broader crackdown on market manipulation. In some reports, up to 18 individuals closely associated with sugar mills are said to be on the ECL, with names to be made public soon.
