For Utility Stores, the federal government has imported the “most costly” sugar in the country’s history. The Trading Corporation of Pakistan (TCP) has arrived in Pakistan with a delivery of 28,760 metric tonnes of sugar. At the port, the TCP paid Rs 109.90 per kilogramme for imported sugar. Last year, the cost of land for 100,000 tonnes of sugar was Rs89.26 per kg.
After deducting all costs, the Utility Stores would obtain sugar at a cost of roughly Rs123 per kilogramme. The ex mill tariff of sugar produced in the country has been set at Rs84.75 per kg by the government. As a result, imported sugar would cost Rs25.15 per kilogramme higher than the official ex-mill price.
Sugar would be delivered to the Utility Stores at a greater cost of Rs33.25 per kg than the official pricing. The imported sugar will be sold at Rs85 per kg at Utility Stores, according to the government’s decision, and the difference between the purchase price and the sale price will be covered by subsidies.
The cabinet’s Economic Coordination Committee (ECC) recently approved the import of 50,000 metric tonnes of sugar in order to maintain adequate stock levels in the country. According to a news statement published by the finance ministry, the committee approved importing sugar in three separate tenders of 50,000 metric tonnes each to ensure greater participation and competition when international prices decreased.
Finance Minister Shaukat Tarin announced at a recent press conference that wheat would be distributed at a rate of Rs1950 per 40kg, while sugar would be priced at Rs89.75 per kg. The minister went on to say that attempts were being made to limit intermediaries profit margins.
“Consumer goods prices have soared all throughout the world. Pakistan is not a one-of-a-kind country. Food and beverage prices in Pakistan have risen at a slower rate than the rest of the world “Tarin elaborated.