The government’s writ faces a fresh challenge as the agreement with sugar mill owners backfires. In Karachi’s wholesale market, sugar prices have surged by Rs3 per kilogram, reaching Rs183 per kg.
In retail shops, the price has climbed further to Rs195 per kg.
Read more:
IMF opposes govt’s justification for tax-free sugar imports
According to sugar dealers, despite the agreement, mill owners are not supplying sugar as per demand, leading to an artificial shortage in Karachi created by mills and hoarders. The Federal Board of Revenue (FBR) is currently inspecting sugar stocks at the mills.
Dealers say that, like other parts of the country, sugar prices in Karachi have not decreased. They accuse the powerful sugar industry of continuing to manipulate the market.
Meanwhile, the international sugar price has declined from $492 per ton to $468 per ton, yet local prices remain high.
.jpg)
