Sugar price expected to drop below Rs150 per kg

The Punjab caretaker government successfully resolved the issue of high sugar prices in the country through negotiations with sugar mill owners. 

A delegation from the sugar mill owners met with Punjab Caretaker Chief Minister (CM) Mohsin Naqvi. Both sides agreed to start sugarcane crushing on October 28. 

According to ARY, sugar mill owners agreed to sell sugar to the Punjab government at Rs140 per kilogramme, and the provincial government planned to distribute the sugar stocks through special stalls in model markets.

CM Naqvi acknowledged the financial difficulties faced by citizens and promised to lower sugar prices to provide relief.

Despite the commerce ministry denying any sugar shortages, prices had surged to over Rs200 per kilogramme in various cities across the country. 

This led citizens in Quetta and Sukkur to buy sugar at Rs220 per kg, while Karachi markets sold it for Rs180 to Rs200 per kg. 

Similarly, sugar prices rose to Rs195 to Rs200/kg in Lahore, Jhang, and Faisalabad.

Previously, it was reported that sugar prices reached a record high of Rs220 per kg in Balochistan’s retail markets. 

Authorities initiated an investigation into the price increase and tightened scrutiny on sugar mill owners and dealers in Lahore. The Punjab government planned to take action to reduce the soaring sugar prices.