From Abid Usman
LAHORE: The price of sugar has jacked up by Rs 5 per kilogram in the local market, with the new price standing at Rs 165 per kilogram in Lahore, media reported.
According to reports, in some areas, the price has surpassed Rs 170 per kilogram, the price of a 50-kilogram bag of sugar has risen from Rs 7,900 to Rs 8,250.
The increase in price is attributed to artificial shortages created by sugar mills, according to the President of the Karyana Association.
A market expert, warned that if the government fails to take action, sugar prices may rise further.
On February 7, it was reported that the Sindh government decided against fixing sugarcane support price for FY2024-25.
Sindh government had been fixing the sugarcane support price but due to a recent pact with the IMF, the province decided against fixing the rate this year.
As per details, the decision was taken in a meeting of the Sindh government to discuss the matter of sugarcane support price.
The cabinet decided to not fix the rate of sugarcane at the government level this year.
Meanwhile, the agriculture department has decided to take the matter to the Sindh cabinet again if any of province fixes the sugarcane support price.
