Karachi: Lack of vigilance & black marketing of sugar has raised the prices of the food commodity. In the wholesale market, the per kilogram rate of sugar in Karachi has reached around Rs150 to Rs165. Online stores supermarkets, and marts are selling it in the range of Rs155-165 per kg. On the other hand, the retail market is demanding sugar at Rs150 per kg.
According to Rauf Ibrahim, Chairman of Karachi Wholesalers Grocers Association, there has been an increase of Rs8 per kg on the wholesale rate. This means that the wholesale rate of sugar in Karachi should have been around Rs143 per kg.
On a national level, the Sensitive Price Indicator pointed out that sugar prices have hiked to Rs135-160 per kg. So far, the government has not taken any measures to control the situation. There were some measures taken by the Punjab government, including confiscating stocked sugar.
The stats of Pakistan Stock Exchange shows significant progress in sugar sector. Rising volumes of sugar and surge in prices jacked the earnings of sugar sector by 23 per cent – Rs14 billion in the initial nine months of FY23.