Commerce Minister Tipu Munshi stated that the price of sugar is expected to decrease within the next day or two, in a press meeting held on 16 May, 2023. The minister assured that new prices for sugar would be established, and strict actions would be taken against any individuals found selling sugar above the set price. During his speech he emphasized that the price of sugar would not continue to rise and expressed confidence in its imminent decline.
He mentioned that the Trade and Tariff Commission had already determined the price of sugar after considering all relevant factors. The minister acknowledged that the current market prices were higher than the prices set by the commission. As a result, instructions have been given to the Directorate of National Consumers Right Protection and local administrations to take appropriate action against those who are involved in selling sugar at inflated prices or plan to do so in the future.