KARCHI: The Karachi Commissioner has set new sugar prices amid public outrage over the hike in the commodity’s rates in the city, ARY News reported on Sunday.
In the latest notification, the revised wholesale price of sugar has been set at Rs. 170 per kilogram, while the retail price is now Rs. 173 per kilogram.
This adjustment comes as a result of sugar’s widespread reports being sold overpriced, ranging from Rs. 180 to Rs. 190 per kilogram in both superstores and markets, going beyond the earlier notified prices.
In an official notification dated April 15, the Karachi Commissioner had fixed the sugar wholesale price at Rs. 160 per kg and the retail rate at Rs. 163 per kg, a Rs. 10 per kg increase in just three months.
The Karachi sugar price hike is part of an inflationary pressure on necessities.
The reason for the recent surge in sugar prices nationwide has been attributed to hoarding, market rigging and accelerating procurement.
In response, the federal government has approved the import of 500,000 tons of sugar to stabilise the market.
The Karachi sugar price hike demonstrates current challenges in market regulation and affordability, especially for low-income, needy households experiencing economic hardship.
Read More: Sugar crisis deepens in Rawalpindi, Islamabad
Meanwhile, the sugar crisis intensified in Rawalpindi and Islamabad despite official claims of available stock of the commodity in the twin cities.
Sugar has disappeared from markets across Rawalpindi. Both wholesale and retail outlets are reportedly out of stock.
In retail markets, sugar is being sold at prices ranging from Rs190 to Rs200 per kilogram, while in wholesale, a 50-kg bag has surged to as high as Rs9,300.
The sugar crisis has gripped citizens across Pakistan, with a shortage and hiked prices of the commodity reported in Attock, Chakwal, and Talagang.
Mill owners have attributed the shortage to depleted stocks and halted supply chains. The district administration has launched an operation aimed at bringing sugar prices down.
