Wholesalers in Pakistan asked to reduce sugar prices

Rawalpindi: The sugar prices are rising in Pakistan, following which government has taken this seriously and instructed to divisional commissioners to bring them down in the open market. According to the reports, sugar prices are up to Rs 76 per kg in the wholesale market.

After receiving the directives from the government to reduce the sugar price, the district administration in Rawalpindi fixed the price of sugar at Rs 74 per kg in the wholesale market. They are likely to conduct the raids at the market to make sure that directives have been implemented.

Retailers were permitted to sell sugar by increasing Rs 3 per kg, but now district administration decreased the margin to Rs 2 per kg. But as per reports, retailers refused to sell it at low prices. Retailers claim that they need Rs 3 per kg profit to meet the expenditures, including the cost of transportation and packing material.

In the last two months, the country witnessed a sudden hike in sugar prices as in Ramazan it was available at Rs 54 per kg for the residents.

The Pakistan government in June introduced a tax of Rs 3.30 per kg of sugar. Following there were reports that it is being sold at exorbitant rates in the market.  Also, after the complaints of sugar hoarding, the government had launched a crackdown on hoarders of sugar and seized thousands of sugar bags.

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