Government steps in to prevent sugar shortage, first shipment predicted within weeks
ISLAMABAD: Due shortage of sugar and rising prices, Pakistan has finalized a deal with Azerbaijan to import 85,000 tonnes of sugar by its state-owned company, SOCAR.
According to the Ministry of National Food Security and Research, Letters of Credit (LCs) for the full quantity have been successfully opened and dispatched to the relevant banks. The first shipment is expected to reach Pakistani ports within weeks, as part of a phased delivery plan under the government-to-government (G2G) agreement.
“This start will ensure a dedicated supply of sugar in the local market and help protect consumers from unexpected price hikes,” a ministry official stated.
Key Objectives: Price Stability and Market Relief
The imported sugar will be released into the open market at subsidized rates, aiming to:
- Strengthen national reserves
- Stabilize retail prices
- Provide direct ease to the public
The government highlighted that the sugar imports meet international quality standards and will arrive on schedule to support both wholesale and retail supply chains ahead of the high-demand season.
Major Partnership with Azerbaijan’s SOCAR
The deal was carried through SOCAR, Azerbaijan’s state oil company, under a broader trade and energy cooperation framework. Officials suggest this agreement could open further avenues for bilateral trade, including food and energy commodities.
Why This Matters
Pakistan has witnessed periodic sugar crises due to poor domestic output, hoarding, and suspective pricing. By acting proactively, the government aims to avoid past disruptions and ensure price stability heading into the next quarter.
