KARACHI: On Tuesday, the Chairperson of Wholesale Grocer Association Abdul Rauf said that the retail price of per kilogram of sugar has reached to Rs120. Within a span of 20 days, the price of sugar has surged by Rs20 per kg.
The official statement of the Wholesale Grocers Association stated that the 50-kilogram packet of sugar was selling at Rs560 in the wholesale market. According to the association, the demand for sugar increases during the holy month of Ramadan. In addition to that, the smuggling of sugar to Afghanistan and hoarding has caused the prices to jump.
A few months ago, a meeting was held on the summary of the Ministry of National Food Security and Research, on the agenda of exporting more sugar. Federal Minister of Finance Ishaq Dar presided over the meeting and approved to export 250,0000 tonnes of sugar. However, a condition was applied stating that Pakistan Sugar Mills Association would not surge the prices for local markets.
