ISLAMABAD: Pakistani Prime Minister Shehbaz Sharif on Monday said he had ordered a “complete ban” on the export of sugar, amid an increasing demand and soaring prices of the commodity in the South Asian country.
The decision to ban the export of the commodity is aimed at keeping its prices in check by ensuring sufficient stocks were available at home.
In recent days, sugar prices have shot above Rs100 ($0.53) per kilogram, depending upon its availability in different parts of the country.
“Given the domestic demand, I have ordered a complete ban on the export of sugar,” PM Sharif said on Twitter.
“There will be a strict action against smuggling and hoarding. Absolutely zero tolerance for those found negligent in their duties.”
The prime minister directed for first meeting the demand of the people and stabilizing the price of sugar in the country, his office said in a statement.
PM Sharif asked the authorities to keep him informed about the implementation of his orders.
The prices of various commodities, including flour, ghee and edibles, have been on the rise in the country as well as globally.
Pakistan’s inflation also rose to a two-year high of 13.37 percent in April compared to the same month last year, the statistics bureau said on May 1.
Inflation accelerated from 12.7 percent year-on-year in March, marking a 1.61 percent month-on-month rise in April.
