Khalid Hussain Batth, President of Kisan Ittehad, has held speculative hoarding, large-scale smuggling, and lack of institutional response responsible for the recent spike in sugar prices across Pakistan.
Speaking at a press conference at the Karachi Press Club on Wednesday, Batth asserted that the situation could be quickly stabilized if the Prime Minister and President took direct notice. According to him, sugar prices could be brought down to Rs120 per kilogram, without resorting to tax- or duty-free imports.
Batth criticized the current market rate of sugar, which he said stands at around Rs 200 per kilogram, despite a production cost not exceeding Rs 120.
He called for a full, transparent investigation into sugar mill operations, demanding clarity on who purchased sugar, how much, and at what price. He claimed the situation has spiraled into a financial scandal involving an estimated Rs114 billion, driven by market speculation, smuggling, and import practices.
Meanwhile, the Wholesale Grocers Association has strongly opposed the government’s plan to import 500,000 tons of sugar. The association urged immediate action against hoarders and speculative traders who, they argue, are artificially inflating prices.
Rauf Ibrahim, Chairman of the association stated that stockpiles held by dealers and the so-called “sugar speculation mafia” total approximately 2.6 million tons, enough to meet national demand for the next five months. “If decisive action is taken, wholesale sugar prices could fall to Rs 150 per kilogram within two days,” Ibrahim said.
