The federal government received reports that certain investors had stocked huge quantities of sugar to reap windfall during Ramazan.
ISLAMABAD: The Economic Coordination Committee will meet next week to formulate a strategy to curb hoarding of sugar and ensure its availability at reasonable price during Ramazan.
Informed sources told Dawn on Tuesday that the federal government had received reports that certain investors had stocked huge quantities of sugar to reap windfall during Ramazan.
The sources said that the Trading Corporation of Pakistan had a stock of only 146,000 tons of imported sugar and a delay in procurement by the TCP had encouraged hoarders to build huge stocks.
“The country’s monthly sugar consumption is 350,000 tons and the TCP stock is not enough to meet requirements of even 15 days,” a government official said.
Finance Minister Dr Abdul Hafeez Shaikh told media that the ministries concerned and the four provinces should ensure smooth supply of sugar and other essential items at reasonable price during the holy month.
“The situation is getting complicated as most of the sugar is in private hands and only provincial governments can ensure supply of sugar from warehouses to markets at appropriate prices,” Dr Shaikh said, adding: “We will discuss the matter in the ECC meeting to assign responsibility.”
Informed sources told Dawn on Tuesday that the federal government had received reports that certain investors had stocked huge quantities of sugar to reap windfall during Ramazan.
The sources said that the Trading Corporation of Pakistan had a stock of only 146,000 tons of imported sugar and a delay in procurement by the TCP had encouraged hoarders to build huge stocks.
“The country’s monthly sugar consumption is 350,000 tons and the TCP stock is not enough to meet requirements of even 15 days,” a government official said.
Finance Minister Dr Abdul Hafeez Shaikh told media that the ministries concerned and the four provinces should ensure smooth supply of sugar and other essential items at reasonable price during the holy month.
“The situation is getting complicated as most of the sugar is in private hands and only provincial governments can ensure supply of sugar from warehouses to markets at appropriate prices,” Dr Shaikh said, adding: “We will discuss the matter in the ECC meeting to assign responsibility.”
-www.dawn.com
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