Govt Seizes Sugar Stocks, Puts Mill Owners on ECL

In response to the ongoing sugar crisis, the federal government has taken extraordinary steps by seizing nearly two million metric tons of sugar from private mills and placing them under state control. Officials say the measure aims to curb profiteering and ensure steady supply in the market.

Alongside the stock takeover, the names of 18 sugar mill owners have been submitted for inclusion on the Exit Control List, as part of efforts to hold stakeholders accountable. FBR personnel have also been deployed across mills to enforce inventory monitoring through digital tracking systems.

However, the move has drawn criticism from the Pakistan Sugar Mills Association. Rejecting the government’s claims, the association asserted that all sales are being made at a regulated ex-mill price of Rs165 per kilogram and that retail pricing falls outside their purview.

The group also claimed that available sugar stocks are sufficient to meet national demand until mid-November, adding that recent disruptions stemmed from logistical issues rather than stockpiling. Accusations were further leveled at industrial dealers and market speculators for distorting prices.