ISLAMABAD – The ongoing sugar crisis in Pakistan has led to a sharp increase in the prices of sweets, adding to the overall inflationary pressure on the consumers.
The price of sugar has climbed to between Rs190 and Rs200 per kilogram while Prime Minister’s Coordinator Rana Ehsan attributed the shortage to climate change.
According to data released by the Pakistan Bureau of Statistics (PBS), sugar prices rose by 6.11 percent in July which resulted in a 7.96 percent hike in sweet prices nationwide.
The PBS report also highlighted significant increases in utility tariffs and other essential costs. Electricity prices rose by 14.18 percent in July, while gas tariffs jumped by 22.91 percent. Transport costs went up by 3.75 percent across all categories.
Housing rents recorded a 1.45 percent rise, and the cost of medicines edged up by 0.16 percent, with doctor consultation fees, dental services and medical tests also becoming more expensive.
The prices of plastic products increased by 3.74 percent during the month, compounding the burden on households already grappling with rising living costs.
Earlier, the reports emerged that Sugar prices surged, surprassing Rs200 per kilogram mark in retail markets as cost of 50-kg sack of sugar jumped to Rs. 8,800, placing additional financial strain on consumers – who are already bearing brunt of sky high prices.
Wholesale sugar prices hover at around Rs175 per kilogram, while retail prices vary between Rs180 and Rs200 in Peshawar. Market analysts attribute rise to multiple factors, including increased sugar consumption during the hot summer months and the impact of budget-related economic changes.
Traders are reportedly selling old stock purchased before Eid at the new elevated prices, amid an overall increase of up to Rs. 60 per kilogram in sugar prices over recent weeks.
Consumers expressed concern over rising cost of essential commodities, calling on authorities to implement measures to stabilize prices and prevent further inflation as demand intensifies.
