Islamabad 29 July: Secretary of Industries and Production during a high-level meeting on essential commodities issued a warning that sugar prices may surge to Rs. 256 per kilogram by October if urgent measures are not taken to address supply shortages.
Currently, sugar is being sold between Rs. 200 to Rs. 220 per kilogram in the open market, with subsidized rates of Rs. 180 per kilogram available at Utility Stores for limited quantities. However, officials fear prices could climb significantly higher in the coming months due to multiple factors.
Industry experts attribute the potential price hike to reduced domestic sugarcane production caused by unfavorable weather conditions, rising global sugar prices, and reports of hoarding by local traders. The depreciation of the Pakistani rupee against the US dollar has further exacerbated the situation by making imports more expensive.
In response to the crisis, the government is considering several emergency measures. These include allowing duty-free sugar imports to boost supply and intensifying crackdowns on hoarders across Punjab and Sindh. Provincial food authorities have already begun conducting raids on warehouses suspected of illegal stockpiling.
The possible price surge has raised concerns among consumers already struggling with high inflation. Economists warn that such an increase could further strain household budgets and push food inflation beyond its current 30 percent mark.
A spokesperson for the Ministry of Industries stated that a comprehensive plan to address the sugar shortage will be presented to the federal cabinet this week. Meanwhile, officials are urging citizens to remain calm and avoid panic buying, which could worsen market instability.
The situation remains fluid, with authorities closely monitoring sugar stock levels and market trends. Consumers are advised to stay updated through official channels as the government works to stabilize prices before the anticipated October surge.
