Wholesalers claim having panacea for reducing sugar price

By: News Desk      Published: 12:03 PM, 23 Oct, 2021
Wholesalers claim having panacea for reducing sugar price
File photo.

The price of sugar has surged once again registering a hike of Rs10 per kilo at wholesale in one week. Now the rate of 100kg sugar sack has reached Rs10,800 after an increase of Rs1,000 in its price, reported 24NewsHD Tv channel.

Talking to 24News TV channel on Saturday, Chairman Wholesale Grocery Association Abdul Rauf Ibrahim said that the price of sugar was soared once again. The ex-mill rate of the commodity has been hiked to Rs108.50 per kg and at wholesale market, it is available for Rs110/kg. The recent increase has pushed its price up from Rs120/kg to Rs125/kg in retail, he added. 

Mr Ibrahim stated two reasons behind the recent hike i.e. off season and less stock of sugar in mills. He was of the view that the Trading Corporation of Pakistan should stop providing sugar to the utility stores. He said the TCP had already provided 150,000 tonnes of sugar to the utility stores and it would provide another 150,000 tonnes later. 

He claimed that if sugar was provided to the wholesale dealers, they would buy it for Rs90/kg and sell it for Rs92/kg. In this way, sugar would reach every nook and corner of the country through a supply chain network of retailers.

He was of the opinion that arresting people was no answer to the problem. The government should hold talks with millers. He maintained that sugar mills owners had their own associations. The government should invite them for dialogue and their point of view should be listened, he suggested. He called upon Prime Minister Imran Khan and Advisor on Finance Shaukat Tarin to listen to the grievances of traders and chalk out an impressive policy. 

Reporter Baseem Iftikhar