ISLAMABAD: Prime Minister Shehbaz Sharif on Friday ordered strict action against hoarders creating an “artificial shortage” of sugar during the holy month of Ramadan, directing officials to coordinate with sugar mills to monitor its supply and consumption across the country.
Food prices in Pakistan often surge during Ramadan due to increased demand and supply chain inefficiencies. However, a major factor is hoarding and speculative pricing by traders who artificially inflate market rates to maximize profits.
Last month, Finance Minister Muhammad Aurangzeb warned the government would not spare hoarders, whose actions contribute to annual spikes in the cost of essential commodities during the holy month.
“We will not allow anyone to hoard sugar or manipulate prices through speculative trading,” the Prime Minister’s Office said in a statement quoting Sharif.
He directed authorities to crack down on profiteers and hoarders creating “artificial shortages” and present a report on the action taken.
“Strict monitoring of sugar supply and consumption must be ensured,” he added.
Sharif also instructed officials to establish coordination mechanisms with sugar mills to oversee the distribution of the commodity and prevent its artificial shortages.
He assured that the country had ample sugar reserves, dismissing concerns of a genuine shortfall.
“Those creating a false crisis must be brought within the ambit of the law,” he said. “During the holy month of Ramadan, we will not allow ordinary citizens to be exploited by the market mafia.”
Sharif directed the chief secretaries of all four provinces to ensure sugar was made available to the public at government-set prices during a high-level meeting in the federal capital.
The meeting, attended by federal ministers, senior government officials and provincial representatives via video link, reviewed sugar supply, consumption and pricing trends.
Officials also briefed the prime minister on the current stock levels and market conditions.