Islamabad: Retail sugar prices in Pakistan have averaged Rs168.8 per kilogram over the past two weeks, surpassing the government’s set limit of Rs164 per kilogram, according to data released by the Pakistan Bureau of Statistics (PBS). This price trend has persisted despite government efforts to control the market, reports The News.
On Friday, Deputy Prime Minister and Foreign Minister Ishaq Dar led a key inter-ministerial meeting focused on stabilizing commodity prices and improving supply systems. He emphasized the government’s determination to carry out reforms aimed at keeping markets steady and strengthening the economy over the long term.
The government had fixed the retail price ceiling at Rs164 per kilogram and ex-mill prices at below Rs159 per kilogram on March 19. However, current market prices are still higher, ranging between Rs170 and Rs180 per kilogram. According to PBS, the average national price of sugar has held steady at Rs168.8 per kilogram since March 27. This marks a significant increase since late November, when sugar was selling at Rs131.85 per kilogram.
This price hike comes in spite of earlier promises by sugar mills to keep prices below Rs140 per kilogram. Instead, domestic supply issues have worsened, even as Pakistan exported 757,597 metric tons of sugar worth $407 million during the first seven months of the current fiscal year. In January alone, exports reached 124,793 tons, bringing in $64.34 million.
