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Sugar price surges above Rs100 in Karachi

Traders say the government must allow its import

SAMAA | - Posted: Jul 7, 2021 | Last Updated: 2 months ago
SAMAA |
Posted: Jul 7, 2021 | Last Updated: 2 months ago

Photo: SAMAA TV (screengrab)

The price of sugar has been steadily increasing in Karachi for a week now. It is close to making a century in the wholesale market while the retailers are already selling the commodity at more than Rs100 per kg.

The sugar mafia and hoarders are said to be the main reason behind the price hike.

Last year, Prime Minister Imran Khan had tasked the Federal Investigation Agency to investigate the 2020 sugar crisis throughout the country and find out who benefited from it.

As the FIA expands its probe, the sugar mafia has started flexing its muscle by making the commodity more expensive.

“The government must establish its writ,” said Abdur Rauf Ibrahim, the Karachi Wholesale Grocers Association chairman.

“To rein in the sugar mafia, private sector should be allowed to import sugar, which will bring its price down to Rs87 per kg.”

Sugar brokers say the sugar price would soar further high if the government didn’t import the commodity.

“The supply is low and the demand is high… if sugar was not imported, the price will go as high as Rs110 [per kg],” a broker told SAMAA TV.

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