A Pakistan Sugar Mills Association (Punjab Zone) spokesperson stated that the artificial surge in sugar prices, driven by the Satta Mafia, profiteers, and hoarders, has been successfully reversed following the government's decision to set ex-mill and retail price benchmarks.
In a statement, he said a General Body meeting of PSMA, held on Tuesday, ruled out any sugar shortage, assuring that stocks are sufficient to meet consumer demand.
He accused Karyana Merchants, the Satta Mafia, and hoarders of spreading baseless rumours to inflate prices. However, sugar prices have now returned to the government-set benchmark, which was agreed upon by the industry in the best interest of consumers. This price will remain in effect until April 19. Additionally, the industry has provided discounted sugar at Rs130 per kg at 274 stalls during Ramazan.
He dismissed reports linking price hikes to sugar exports as completely false. The industry has urged the government to adopt a two-tier pricing mechanism, distinguishing between industrial/commercial consumers (80% of total consumption) and domestic consumers (20%). It proposed that the government subsidise sugar for low-income households, using programmes such as the Benazir Income Support Programme or other targeted interventions.
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