Sugar Prices Hike Again in Pakistan by a staggering Rs 12 per kilogram.
Sugar Prices Soar in Pakistan: Consumers Face the Brunt of Mafia and Mill Owner Collusion
Just months after a brief respite, Pakistani consumers find themselves grappling with another surge in sugar prices as the “sugar mafia” and mill owners tighten their grip on the market.
Within a mere three days, the wholesale price of sugar has jumped by a staggering Rs 12 per kilogram, sparking outrage and raising serious concerns about the government’s ability to control the situation.
Reports point towards a renewed wave of hoarding and speculation by sugar barons, who are artificially inflating prices to maximize their profits.
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This illicit activity has resulted in a 10% increase in the wholesale price of sugar, with a 100 kg bag now costing Rs 13,200. Shopkeepers and traders attribute this alarming rise to the collusion between sugar mills and major dealers.
Wholesale trader Muhammad Shafqat paints a grim picture, stating that the Chinese wholesale rate has already increased by Rs 16 per kg within the first eight working days of this month, with these ripple effects directly impacting consumers at the retail level.
Stakeholders within the sugar industry express grave concerns about the government’s apparent lack of control over the situation.
Despite the recent crushing season, the cost of sugar remains a significant challenge. Additionally, the demand from sugar mill owners to allow sugar exports is further exacerbating the price hike.
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This renewed surge in sugar prices exposes the deep-rooted vulnerabilities within the Pakistani economy and the entrenched power dynamics of the sugar mafia.
With each price hike, consumers are forced to bear the brunt of a system plagued by profiteering and a lack of effective regulation.
Immediate action and stricter measures are urgently needed to address this concerning issue and ensure fair pricing for essential commodities like sugar.
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