PM Shehbaz imposes complete ban on sugar exports to cater to ‘domestic demand’

PM Shehbaz imposes complete ban on sugar exports to cater to ‘domestic demand’

May 10, 2022 0

What happened:

On May 9, Prime Minister Shehbaz Sharif ordered a complete ban on sugar exports in the country. The statement was made via the premier’s official Twitter account. “I have imposed a blanket prohibition on sugar exports due to domestic demand,” he stated.

Details:

The premiere has pledged to take “strong action against smuggling [and] hoarding” in order to maintain sugar supply and prices stable. According to sources familiar with the situation, PM Shehbaz has directed his economic team to prioritise the country’s requirements, emphasising the need for price stability. He also told them to keep him updated on the ban’s implementation, and that in the event of negligence or omission, the officers and staff involved would be held accountable.

Why it matters:

A day earlier, it was reported that the cost of numerous necessary food items at utility stores had risen as the government’s Ramadan aid package had ended.

Mahnoor Tariq
Mahnoor Tariq
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