- Web Desk
- 8 Hours ago
Soaring sugar prices worsen inflation woes for Pakistanis
- Web Desk
- Dec 19, 2023
WEB DESK: In a concerning development, sugar prices in Pakistan have surged to Rs143 per kg in retail markets nationwide, exacerbating the financial strain on the already inflation-hit masses.
Official data reveals a stark increase from the December figure of Rs95.29 per kg, marking an average rise of Rs48 per kg in the past year.
The regional disparities in sugar prices are notable, with Quetta reporting the highest rate at Rs174 per kg, followed by Peshawar and Islamabad at Rs150 per kg.
Rawalpindi and Lahore residents are also facing the brunt of the commodity priced at Rs150 per kg, while in Sargodha, Multan, and Gujranwala, the cost stands at Rs145 per kg.
Recent revelations on November 29 indicate that the Utility Stores Corporation (USC) successfully procured 40,000 metric tonnes of sugar at a rate of Rs124.90 per kg.
Insiders familiar with the matter disclosed that this acquisition occurred in line with a tender issued the previous month.
The procurement reflects a cost savings of Rs10.37 per kg compared to the corporation’s previous tender, and accounting for additional expenses, the total cost to the USC is expected to be Rs138.
This surge in sugar prices adds to the economic challenges faced by Pakistani citizens as they grapple with the ongoing impact of inflation.