ISLAMABAD – Amid soaring retail prices and growing market concerns, the federal government has directed the Trading Corporation of Pakistan (TCP) to import 350,000 metric tonnes of sugar in a two-phase operation aimed at controlling prices and ensuring adequate domestic supply.
The move comes as part of a broader market intervention strategy to tackle inflation and prevent hoarding ahead of the upcoming festive and high-demand seasons.
Two-Phase Import Strategy
According to official sources:
- In the first phase, TCP will immediately float tenders to procure 200,000 tonnes of sugar.
- In the second phase, another 150,000 tonnes will be tendered within the next week.
To maximise affordability, the imported sugar will be exempt from all duties and taxes, making it cheaper for consumers once it reaches retail shelves.
Response to Soaring Prices
With market prices of sugar rising to Rs 190–200 per kilogram, the government is under pressure to stabilise rates and avoid a supply crisis. The Economic Coordination Committee had earlier approved the import of up to 500,000 tonnes, laying the groundwork for this fresh procurement.
Transparent Process Through TCP
Federal Minister Rana Tanveer Hussain, who heads the steering committee overseeing the sugar import, stressed that the entire process would be transparent and quality-focused, ensuring the delivery of premium-grade sugar to local markets.
The TCP, being a government-controlled entity, will oversee the procurement, inspection, and distribution, ensuring that the imported sugar reaches the public without delay or manipulation.
Curbing Hoarding and Market Exploitation
The decision follows detailed discussions on market trends, inventory levels, and price projections. Officials believe TCP’s intervention will help:
- Prevent artificial price inflation
- Ensure adequate supply in the open market
- Deter hoarding practices and speculative stockpiling
Relief for the Common Man
Authorities hope that the duty-free imports will lead to a drop in consumer prices, providing relief to millions of households facing the brunt of rising food costs.
With inflation still weighing heavily on low and middle-income groups, the government’s swift intervention is seen as a crucial step to avoid further economic distress.
This story has been reported by PakTribune. All rights reserved.