The government has chalked out a two-pronged strategy to check the rising trend in sugar prices in the market. It includes offloading of the commodity being imported by Trading Corporation of Pakistan (TCP) in the open market in bulk through tenders at subsidised rates, and increasing monthly quota to Utility Store Corporation (USC) from the stocks available with TCP.
Sources in Finance Ministry told Business Recorder that the committee on sugar gave formal approval for the strategy. The committee discussed the issue at length in its last meeting and decided to offload imported white sugar in bulk, through tenders, in the local market at subsidised rates.
The committee noted that offloading of imported sugar in bulk would help in bringing the prices down to a reasonable level.
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