Authorities have intensified the crackdown on sugar hoarders after Prime Minister Shehbaz Sharif expressed anger over the artificial shortage of sugar created by hoarders, which has resulted in a surge in sugar prices across the country.
According to Aaj News sources, authorities are scrutinising sugar mills’ records and have compiled a list of speculators allegedly involved in price manipulation. Strict action is expected against mill owners found guilty of artificially inflating prices.
The news report, quoting sources within the ministry, further added that the government’s reputation suffered after it allowed sugar exports despite a written agreement with mill owners and major dealers that prices would remain stable.
The Sugar Mills Association had pledged to keep prices in check at the time of export approval. However, sugar prices soared from Rs124 to Rs170 per kilogram following the export.
The sugar mill owners and major dealers have been summoned to Islamabad tomorrow following the recent surge in sugar prices.
Meanwhile, sugar prices have surged in major cities, including Karachi, Lahore, and Peshawar, amid the ongoing holy month of Ramadan. In response, the government has decided to take stringent measures to ensure the availability of sugar at controlled prices.
The Federal Investigation Agency (FIA) has launched a crackdown in multiple cities, including Faisalabad and Lahore. Several sugar dealers have been arrested, and records have been seized as part of the ongoing investigation.
Read this also: CDA moves forward with multi-level parking project near Centaurus
