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Minister for Finance and Revenue Shaukat Tarin ordered procurement of 100,000 tonnes of sugar to ensure strategic reserves of the sweetener. Photo courtesy Radio Pakistan/ File
ISLAMABAD: The National Price Monitoring Committee has expressed satisfaction over the recent declining trend in sugar price.
Presiding over a meeting of the committee here on Monday, Minister for Finance and Revenue Shaukat Tarin ordered procurement of 100,000 tonnes of sugar to ensure strategic reserves of the sweetener.
The finance secretary briefed the meeting about a slight increase of 0.07 per cent in the weekly Sensitive Price Index (SPI) indicating price stability as compared to previous weeks.
Cargoes of 100,000 tonnes of sugar expected on July 15
July 13, 2021
ISLAMABAD: Finance Minister Shaukat Tarin on Monday asked officials to import another 100,000 tons of sugar to build strategic reserves with the same quantity scheduled to reach this week.
Presiding over a meeting of the National Price Monitoring Committee (NPMC) Tarin directed the ministry to procure another 100,000 ton of sugar in due course of time to ensure strategic reserves of key commodities for price stability.
The meeting was informed that arrangements had been made to import 100,000 tons of sugar by 15th August. Sufficient reserves of sugar will be available till the arrival of the new sugarcane crop, it was told. Arrangements are also underway for importing wheat for building strategic reserves and the whole process would be completed soon.
NPMC seeks more sugar import
Urges ministries to take action against those involved in hoarding and cartelisation
Free trade in sugar would make consumers better off by discouraging hoarding and over-pricing in the domestic market. PHOTO: FILE
KARACHI:
The Pakistan Tehreek-e-Insaf (PTI) government has directed concerned ministries, departments and officials to take action against those involved in hoarding, cartelisation and undue profiteering on foods and asked to build buffer stock of major commodities to bring price stability in the country.
Finance Minister Shaukat Tarin, while chairing a meeting of National Price Monitoring Committee (NPMC) on Monday, directed to import another 100,000 of sugar in one month in addition to an equal amount of the commodity arriving in Pakistan by mid of August.