Deputy Prime Minister Ishaq Dar has reaffirmed the government’s commitment to regulating sugar prices and monitoring supply to stabilize the market. Despite prior efforts to cap retail sugar prices at Rs130 per kilogramme, rates have surged above Rs180 per kg in various markets nationwide.Â
In a recent meeting in Islamabad, Dar expressed satisfaction with a noted downward trend in sugar prices and directed the Pakistan Sugar Mills Association (PSMA) to ensure retail prices do not exceed Rs164 per kg.Â
The Competition Commission of Pakistan (CCP) is closely monitoring the situation, warning of strict actions against any anti-competitive activities. A 2020 CCP inquiry revealed that sugar mills were allegedly engaged in price-fixing and supply control through coordinated actions facilitated by the PSMA, leading to significant penalties imposed in August 2021.Â
