The federal government has decided to initiate a large-scale crackdown against sugar hoarders and market manipulators in a bid to control the artificial surge in sugar prices, sources revealed on Thursday.
According to high-level sources, Prime Minister Shehbaz Sharif has given the green light for an extensive nationwide operation, empowering key agencies, including the Federal Investigation Agency (FIA), Intelligence Bureau (IB), Federal Board of Revenue (FBR), and the State Bank of Pakistan (SBP), to take indiscriminate legal action against hoarding, cartelization, and speculative price manipulation.
The premier has directed these institutions to conduct raids, make arrests, and enforce strict penalties against those responsible for distorting the sugar market. "No one involved in price manipulation or hoarding will be spared," a senior government official told reporters on condition of anonymity.
Import of large quantity of sugar approved
In connection with this, a review meeting on food supply and price control was chaired by Deputy Prime Minister Ishaq Dar, with attendance from the minister for food security and senior officials from the FIA and FBR.
During the meeting, it was decided to send a policy for the import of 250,000 metric tons of raw sugar to the federal cabinet for approval. Additionally, the government has given in-principle approval for the import of 500,000 metric tonnes of refined sugar, which will be processed through the Economic Coordination Committee (ECC), officials announced.
The move is aimed at ensuring sufficient supply of sugar in the domestic market and curbing price volatility, especially in the run-up to the monsoon and festive seasons.
“The government's top priority is to safeguard the interests of both consumers and producers,” said Deputy Prime Minister Ishaq Dar during the meeting. “We are committed to ensuring the uninterrupted availability of essential commodities at fair and affordable prices.”
Relevant institutions have already intensified their field operations, and sources suggest that significant arrests and seizures are expected in the coming days as part of the anti-hoarding drive.
