Sugar millers in Pakistan have warned that they will raise sugar price by five rupees per kilogram. They say this is because the government has decided to change the General Sales Tax (GST). This could cause them to lose money.
The Warning:
Sugar millers have said they will raise the sugar price by Rs 5 per kilogram if the government does not cancel its decision to change the GST. According to reports, the government and sugar millers could not agree on the price because the millers refused to sell sugar for Rs 140 per kilogram. Sources also say that sugar prices may go up even more before Eidul Fitr due to a shortage.
Sugar mill representatives have warned that if the Pakistan government tries to lower prices. Furthermore they may stop supplying sugar to the market.
They also pointed out that the government itself allowed sugar exports and should not complain about the resulting shortage.
Retail markets are selling sugar at Rs 170 to Rs 175 per kg. Despite the government’s efforts to stabilize prices, no significant reduction has been observed.
It is to be noted that Pakistan government allowed sugar millers to export sugar on the assurance of stability of the rate.
Sugar price in Pakistan city Karachi
Retailers are selling sugar at Rs150 per kg, while online grocery stores, marts, and supermarkets have set prices between Rs155-165 per kg.
According to the Sensitive Price Indicator (SPI), the national average price of sugar was Rs135-160 per kg last week. In early July, it was Rs125-140 per kg, and in January 2023, it was much lower at Rs87-100 per kg.
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