The Costly Commodity: Recently, the price of sugar in Pakistan has reached an alarming milestone, crossing the Rs. 200 per kg mark in various cities nationwide. However, this surge in sugar prices has created significant concerns for consumers, impacting their daily lives and household budgets.
Smuggling, and Market Manipulation
The Ministry of National Food Security & Research has identified several culprits behind this steep increase in sugar prices. Smuggling, hoarding, and market manipulation are the key factors contributing to the distressing situation. However, these practices not only lead to the scarcity of sugar but also drive up its cost.
Variations in Sugar Prices
The variation in sugar prices is evident across different regions of the country. Moreover, in Balochistan’s Noshki, the price of sugar has soared to an astounding Rs. 220 per kg. Other cities in the province, such as Quetta, Kohlu, and Washuk, are not far behind, with sugar being sold for approximately Rs. 200 per kg. Moving to Peshawar, consumers are grappling with sugar prices ranging from Rs. 195 to Rs. 205 per kg. However, the situation is slightly more favorable in Punjab, with sugar available at Rs. 170 to Rs. 190 per kg.
Efforts to Combat the Crisis
Recognizing the severity of the situation, the Economic Coordination Committee (ECC) of the Cabinet recently took action. They directed the Ministry of National Food Security & Research to collaborate with relevant agencies and authorities to curb the smuggling and hoarding of sugar. Additionally, the ECC mandated the ministry to promptly furnish data on wheat stocks, availability, and prices.
Exponential Price Surge:
A Striking 80% Increase
Over the past four months, sugar prices have witnessed an astonishing surge of more than 80%. This exponential increase has taken a toll on the average consumer’s pocket. Despite these escalating prices, Pakistan continued to export sugar, with exports reaching 5,542 metric tonnes in July. However, this will no longer be the case, as a ban on sugar exports was imposed on August 10.
Regional Disparities Persist:
Karachi, Lahore, and Multan
Notably, sugar prices also vary within major cities. In Karachi, Lahore, and Multan, sugar is available at around Rs. 180 per kg. Although this is relatively lower than in other regions, it still represents a significant financial burden for many households.
In conclusion, the soaring sugar prices in Pakistan are a pressing concern for the common citizen. However, the combination of smuggling, hoarding, and market manipulation has led to an 80% price hike in just a few months, affecting households nationwide. The government’s actions to combat this crisis, including a ban on sugar exports, aim to stabilize the situation and relieve consumers. However, the impact of these measures remains to be seen, and consumers continue to grapple with the rising cost of this essential commodity.
How useful was this article?
Please rate this article
Average rating / 5. Vote count: