Government sources have disclosed plans to launch nationwide crackdown on sugar hoarders and market manipulators to stabilize prices.
Prime Minister Shehbaz Sharif has approved a broad nationwide operation, according to high-level sources.
This will enable the Federal Investigation Agency (FIA), Intelligence Bureau (IB), Federal Board of Revenue (FBR), and State Bank of Pakistan (SBP) to take indiscriminate legal action against cartelization, hoarding, and speculative price manipulation.
These organizations have been instructed by the premier to carry out raids, make arrests, and impose severe sanctions on those who are involved in sugar market manipulation.
On condition of anonymity, a senior government official told reporters, “No one involved in price manipulation or hoarding will be spared.”
In this regard, Deputy Prime Minister Ishaq Dar presided over a review meeting on food supply and price control, which was attended by the food security minister and senior FIA and FBR officials.
A policy for the import of 250,000 metric tons of raw sugar was sent to the federal cabinet for approval during the meeting.
The import of 500,000 metric tonnes of refined sugar has also received in-principle approval from the government and will be processed by the Economic Coordination Committee (ECC), officials said.
