LAHORE: Sugar prices have witnessed a sharp increase of Rs 5 per kilogram in Lahore’s local market, bringing the new price to Rs 165 per kg, according to ARY News.
In certain areas, sugar is being sold for over Rs 170 per kg, while the price of a 50-kilogram bag has jumped from Rs 7,900 to Rs 8,250.
The President of the Karyana Association has blamed this sudden hike on artificial shortages allegedly created by sugar mills.
A market analyst warned that if the government does not intervene, prices could climb even higher in the coming days.
On February 7, it was also reported that the Sindh government decided not to set a support price for sugarcane for the fiscal year 2024-25, a decision linked to commitments made under the IMF programme.
The matter was discussed during a high-level meeting of the Sindh cabinet, where it was decided that the provincial government would not fix sugarcane prices this year. However, the agriculture department may revisit the decision if any other province chooses to set its own support price for sugarcane.
