The Government of Pakistan has officially opened Letters of Credit (LCs) to import 85,000 metric tons of sugar under a government-to-government agreement, in a bid to address domestic shortages and stabilise prices.
According to official sources, the LCs have been communicated to banks, enabling phased shipments of imported sugar. The first consignment is expected to arrive at Pakistani ports within the coming weeks. Authorities assured that the imported sugar meets international quality standards and will be delivered within the specified timeframe.
The initiative comes amid a sharp rise in sugar prices, which have touched nearly Rs 200 per kg in major cities. Analysts have linked the crisis to seasonal supply gaps and stockpiling, which disrupted market continuity.
Officials said the imported sugar will be distributed efficiently to meet both industrial and consumer demand, ensuring uninterrupted supply and preventing further price hikes. The government maintains that the measure will help curb inflation and support food security.
Earlier, Chairman of the Competition Commission of Pakistan (CCP), Dr Kabir Ahmed Sidhu, informed Finance Minister Muhammad Aurangzeb that sugar stocks had dropped due to exports permitted on the basis of misreported estimates. He recalled that past sugar crises in 2008, 2015, and 2019 were also caused by supply restrictions.
