The government has taken a major decision to stop further imports in view of the presence of abundant sugar reserves in the country. After a detailed review of sugar stocks in the Ministry of National Food Security, government officials have confirmed that the current quantity of sugar in the country is sufficient to meet the needs of consumers, and there is no need for new imports now.
Under this decision, further import of sugar through Trading Corporation of Pakistan (TCP) has been stopped with immediate effect. Officials say that import of sugar will be limited to 3 lakh metric tons of existing international contracts, for which orders have already been placed. Strict instructions have been issued to TCP not to make any further purchases beyond these orders. It may be recalled that the government had earlier decided to import 5 lakh tons of sugar to overcome the shortage of sugar in the country. However, this policy has been changed after the latest review of stocks came out.
This move by the government is being considered a positive step for the local sugar industry and farmers, as it will protect local production and will also help in saving valuable foreign exchange reserves. Now it remains to be seen what strategy the government adopts to keep sugar prices stable in the local market after the import ban.
