The federal government has fixed Rs. 88.24 per kg maximum retail prices of sugar.
As per the reports the Ministry of Industries and Production has notified Rs. 88.24 per kg maximum retail prices of sugar including transportation and packing charges.
According to FBR, the sugar mills during the six months of this season (December 2020 to May 2021) have sold 2.47 million tons of sugar worth Rs. 174 billion.
The mills have declared Rs. 70.42 per kg as average ex-mill sale rate, Rs. 1 per kg distribution cost, Rs. 4 per kg transport/packing & retailer margin, and Rs17 percent sales tax per kg in their sales tax returns.
Keeping in view the above facts, the maximum retail price works out is Rs. 88.24, the document added.
Sugar mill owners are not willing to lower sugar prices to fair levels voluntarily despite the fact, all the above-mentioned facts have been shared with the Pakistan Sugar mill association so, in the exercise of the powers vested under section 6 of the price control and prevention of profiteering and hoarding act, 1977, controller general of price hereby fix Rs. 88.24 per kg (inclusive of tax) the retail price of locally produced white crystalline sugar at which it shall be made available to the general public.
The provincial authorities/ICT are directed to implement this order and to take action against those mills, dealers, distributors, and retailers who do not comply with this order besides a weekly compliance report shall also be filed by authorities exercising the delegated powers of controller general of price in the provincial and federal jurisdiction.