Govt-mills talks on sugar retail rate inconclusive

Talks between the Pakistan Sugar Mills Association (PSMA) and Minister for National Food Security and Research Rana Tanveer Hussain on Tuesday ended without a clear decision on the retail price of sugar, as market rates remain elevated. Sources familiar with the meeting said a final decision on the retail price is expected in the next few days. However, it was emphasised during the meeting that the price should remain close to Rs 170 per kg. The PSMA chairman assured that sugar prices would decline within a day or two. While the government claimed the PSMA has agreed to supply sugar at an ex-mill price of Rs165 per kg, the actual retail price for consumers remains unannounced. Observers noted that Monday’s agreement yielded substantial profit margins for mills, leaving consumers to bear the brunt of high retail rates.