Sugar prices likely to come down by Rs10 within 10 days: Hammad Azhar

ISLAMABAD: Federal industries and production minister Hammad Azhar said Tuesday in a press briefing that sugar prices had previously soared thus the government imported about 1.25 lac tonnes following which the commodity is now available for Rs62 per kilo.

Talking about steps to offset crises of sugar and wheat, the government ministers including Hammad Azhar, economic affairs minister Khusro Bakhtiar, and information minister Shibli Faraz held a press conference today wherein they noted imminent sugar crushing season will bring down sugar prices further.

Rs10 to -12 rupees are expected to slash for the commodity in ex-mill and wholesale rates in the next 10 days, said federal minister Azhar, adding that it will be historic first for sugar crushing season to begin timely. The effect will reflect on the retail market as well.

He added that the government constituted sugar reforms commission is working towards a sustainable policy to keep the essential commodity prices stable in the future as well.

Reforms commission is working with both parties, the millers and farmers, to lay out terms that are not exploitative to either party.

Azhar noted that in the meanwhile, utility stores shall remain replete with imported sugar stocks to ensure availability of the commodity on reasonable prices.