As Ramadan approaches, sugar prices have surged across Pakistan, leaving citizens distressed and shopkeepers demanding accountability from the authorities.
Over the past week, the price of sugar in Lahore has risen by Rs12 per kilogram, with the price of a 50kg sugar bag increasing from Rs6,800 to Rs7,400. The wholesale price of sugar has gone up from Rs136 per kg to Rs148 in Lahore.
The price of sugar in the retail market has increased to Rs150 per kg.
Karachi Market
In Karachi’s retail market, sugar is being sold at Rs150 per kg, with a surge of Rs20 per kg in just 10 days. On Friday, a sugar sack saw a price increase of Rs500, as claimed by a dealer.
The sugar mafia has once again challenged the government’s authority, causing a rise in sugar prices nationwide. They are allegedly orchestrating a pre-Ramadan price hike, aiming to push the price of sugar to Rs170 per kilogram during the holy month.
In just 10 days, the price of a 100kg sack of sugar has increased by Rs2,000. This month alone, the price per sack has risen by Rs2,500, translating to a Rs25 increase per kg. In Karachi’s wholesale market, Jodia Bazaar, sugar has reached Rs144 per kg, while retail prices across the country have exceeded Rs150 per kg.
Sugar speculators are actively manipulating prices in major cities like Lahore, Peshawar, Karachi, and interior Sindh. Large-scale traders are using WhatsApp groups to conduct transactions and manipulate prices after physical markets close.
Qurban Ali Shah, a sugar dealer, stated that despite the ongoing sugarcane crushing season and ample sugar stocks, speculation is being fueled under the guise of export and smuggling. On Friday alone, a sugar sack’s price increased by Rs500 in one day.
They argue that with proper regulation and intervention, such as Federal Investigation Agency (FIA) raids, sugar prices could drop by at least Rs10 per kg overnight.
Public circles are urging authorities to take swift action to curb the sugar mafia and stabilize prices ahead of Ramadan.
