Price of sugar crosses petrol's price in Pakistan; Retail price soars to Rs 155-160 per kg
The price of sugar has crossed petrol's price, with sugar being sold at Rs 155-160 per kg, while petrol is sold at Rs 138.30 per litre in Pakistan, reports say.
- World News
- 3 min read
;'%3e%3cpath%20d='m8,15.99c4.41,0,7.99-3.58,7.99-7.99S12.41,0,8,0,0,3.59,0,8s3.58,7.99,7.99,7.99Z'%20style='stroke:%23fff;%20stroke-miterlimit:10;%20stroke-width:.02px;'/%3e%3cpath%20d='m3.08,3.37l3.82,5.11-3.84,4.15h.87l3.37-3.64,2.72,3.64h2.94l-4.04-5.39,3.58-3.87h-.86l-3.1,3.35-2.5-3.35h-2.94Zm1.27.64h1.35l5.97,7.99h-1.35l-5.97-7.99Z'%20style='fill:%23fff;'/%3e%3c/g%3e%3c/svg%3e){kind=small}
Despite taking several measures, the Imran Khan-led Pakistan government failed to control the soaring prices of daily eatables like sugar. According to a report by Geo News, the price of sugar has now crossed the price of petrol, with sugar now being sold at Rs 155-160 per kg, while petrol is currently being sold at Rs 138.30 per litre (November 4) in Pakistan.
The local media report said the wholesale price of sugar in Peshawar zoomed to Rs 8 kg in the last 24 hours. While speaking to Geo News, the president of the Sugar Dealers Association asserted anguish over the policies of the current government and said sugar is being sold at a wholesale rate of Rs 140 per kg while the retail price has gone up from Rs 145 to Rs 150 per kg.
Ilegal stocking led to skyrocketing sugar price
Further, he told that the price of sugar in the wholesale market was Rs 126 per kg in Lahore-- the capital of the Pakistani province of Punjab. According to the sources of Geo News, the price of sugar has seen an abrupt surge due to the "overstocking" of sweet-tasting, soluble carbohydrates by some of the big dealers who are responsible for the distribution of sugar in the major cities. The main aim of these dealers is to make illegal profits. Further, the local media report claimed the ex-mill price of sugar in Karachi has now reached the highest level in history at Rs 142 per kg-- an increase of Rs 12 per kg in a day. Similarly, the prices of the sweet commodity went up from Rs 124 to Rs 129 per kg in Quetta.
Pakistan PM blamed shutting down of three sugar mills for soaring sugar price
This comes after Imran Khan on Wednesday announced "country's biggest-ever" subsidy package worth Rs 120 billion, providing a 30% discount on ghee, flour, and pulses to support 130 million people by ebbing away from the impact of inflation.
Meanwhile, Pakistan Prime Minister Khan blamed the abrupt shutting down of three sugar mills for being the main reason behind the skyrocketing price of sugar. Speaking at a ceremony in Attock to lay the foundation stone of Maternal and Child Hospital, he said, "The price of sugar in Pakistan has hit Rs 140 per kg. I inquired why this was so. I learnt that three sugar mills in Sindh which were operational were shut down", reported Geo News.