After a relentless month-long surge, sugar prices in Karachi have finally seen their first decline, marking a significant blow to the sugar mafia and offering slight relief to inflation-hit citizens.
According to market sources, the price of a 100kg sugar sack in the wholesale market dropped by Rs400 in a single day. In Jodia Bazaar — one of the city’s largest wholesale markets — sugar is now being sold at Rs179 per kg, down from Rs183 per kg just a day earlier.
Muhammad Shafqat, president of the Wholesale Sugar Dealers Association, credited the price drop to the restoration of supply from sugar mills, saying prices are expected to decrease further in the coming days. "There is no shortage of sugar in Karachi, and the market is gradually stabilizing," he assured.
Sugar prices had seen a sharp climb from Rs165 to Rs183 per kg since June, primarily due to hoarding and artificial scarcity allegedly created by profiteers. However, the recent government crackdown appears to have begun yielding positive results.
Despite the improvement in wholesale rates, profiteering continues in several retail markets across the city. In areas such as Liaquatabad and Nazimabad, shopkeepers are still selling sugar at Rs200 per kg, ignoring the wholesale price decline.
Frustrated citizens have called on the authorities to take strict action against retail profiteers. "Inflation has already made life miserable. Now even sugar, once a symbol of sweetness, has turned bitter," said a local shopper.
The government is being urged to ensure price reductions in the wholesale market are reflected at the retail level to provide real relief to the public. Further price drops are expected if enforcement measures continue and supply from mills remains uninterrupted.
