Millers to benefit from Rs19/kg hike in sugar price

ISLAMABAD:

The government on Wednesday set the retail price of sugar at Rs164 per kilogram, which is 13% higher than the price set when the export of 600,000 metric tons of sugar was allowed. This adjustment benefits millers by enabling them to reap double bonanza, earning higher revenues from both local and international markets.

The decision was taken by a 10-member committee led by Deputy Prime Minister Ishaq Dar. The committee determined the new ex-factory and retail prices of sugar after negotiations with the Pakistan Sugar Mills Association (PSMA), an entity accused of operating as a cartel by the nation's antitrust watchdog.