Surge Prices Rising Above Rs. 200 per Kg. Across many cities in the country, the price of sugar has surged beyond the significant benchmark of Rs. 200 per kg. The Ministry of National Food Security & Research attributes this steep increase to smuggling, hoarding, and market manipulation.
Rising Sugar Costs Across Provinces
In Balochistan’s Noshki, sugar is now being sold at an astonishing Rs. 220 per kg. Similarly, other cities within the province, including Quetta, Kohlu, and Washuk, are witnessing sugar prices hovering around the Rs. 200 per kg mark.
Peshawar, in Khyber Pakhtunkhwa, sees sugar prices ranging from Rs. 195 to Rs. 205 per kg. Meanwhile, in Punjab, sugar is being retailed for Rs. 170 to Rs. 190 per kg. Major urban centers like Karachi, Lahore, and Multan report sugar prices of approximately Rs. 180 per kg.
Government Actions to Tackle the Crisis
During its recent session, the Economic Coordination Committee (ECC) of the Cabinet took action to address the situation. The ECC instructed the Ministry of National Food Security & Research to collaborate with relevant agencies and authorities to curb the smuggling and hoarding of sugar. Additionally, the ministry was tasked with promptly providing updated information on wheat stocks, availability, and pricing.
Soaring Prices Over a Short Period
It is worth noting that sugar prices have experienced an alarming increase of over 80 percent within just four months. Despite this surge, the country had been engaged in sugar exports, recording 5,542 metric tonnes in July. However, the export of sugar has been halted since August 10, with a ban in place.
In summary, the sharp escalation of sugar prices poses significant economic challenges, with multiple factors contributing to this surge. Government intervention and measures to combat hoarding and smuggling are vital in stabilizing the situation and ensuring affordable access to this essential commodity for the general public.