- First shipment set to arrive within coming weeks.
- Sugar to be sold at subsidised rates in markets.
- Govt aims to prevent shortages, control rising prices.
ISLAMABAD: In a bid to prevent shortages and stabilise prices in the domestic market, Pakistan has secured letters of credit (LCs) for the import of 85,000 metric tonnes of sugar through a trade agreement with Azerbaijan’s state-owned oil firm, SOCAR.
The Ministry of National Food Security and Research has announced that all financial arrangements had been finalised, with the letters of credit now processed and shared with relevant banks.
The first shipment is expected to dock at Pakistani ports within weeks under a trade agreement with SOCAR. The initiative aims to bolster domestic reserves, ensure a steady supply in the market, and shield consumers from sudden price hikes.
As per the the plan, the imported sugar will be sold in the open market at subsidised rates to provide relief to the public.
Authorities have said that the imported sugar would meet international quality standards and will arrive within the stipulated timelines.
The import is expected not only to strengthen national stockpiles but also to help stabilise market prices in the coming months.
The development comes days after the federal government placed an order for importing 200,000 metric tonnes of sugar — whose first shipment is expected to arrive in early September — to stabilise domestic prices and provide relief to consumers.
The government hopes that the influx of imported sugar will support local market stability and curb inflationary trends affecting a key household commodity.
Pakistan’s sugar crisis has worsened as markets in Lahore and Islamabad reported severe shortages, while prices in Karachi, Peshawar and Quetta surged to as high as Rs190 per kilogramme, defying official price caps,
