Islamabad, Feb 7: The price of sugar has surged by Rs. 10 per kg in the last one and a half weeks, pushing the cost to Rs. 140 per kg at government-run utility stores. This increase reflects the growing trend in the open market, where sugar prices continue to rise.
Despite the hike, sugar at utility stores remains comparatively more affordable than in the open market, industry insiders revealed. It is important to note that in August 2024, the federal government withdrew subsidies on five essential commodities at Utility Stores, including sugar. This decision has contributed to the recent price fluctuations.
Government sources indicate that an official price ceiling for sugar is being considered, with authorities aiming to fix the rate at Rs. 140 per kg. The Sugar Advisory Board has voiced concerns over the persistent rise in sugar prices and is exploring strategies to mitigate inflationary pressures. In alignment with the Prime Minister’s directives, the board is preparing to take necessary actions to regulate the market and prevent price manipulation.
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The Sugar Advisory Board will meet on Monday to make final decisions. They will enforce strict measures against vendors violating price rules. Authorities will act firmly to stabilize the market and protect consumers.
As inflation continues to impact essential commodities, consumers and market stakeholders await decisive steps from the government to stabilize prices and ensure affordability for the public.
