The price of sugar has skyrocketed once again in the retail market and reached Rs95 per kg from Rs92 after an increase of Rs3 per kg on Wednesday.
On the other hand, in the wholesale market, the price of a 100kg sack of sugar has increased from Rs8,500 to Rs8,800. It has been reported that the sugar mill owners have reduced the supply of sugar which has led to shortage and hike in price. The sugar dealers said if the government does not take notice it is feared that the sugar price may exceed Rs100 per kg.
The consumers reacted to the hike in the sugar prices and said despite the arrival of new sugar in the market the reason for the increase in sugar price is incomprehensible. Earlier, Punjab Chief Minister Usman Buzdar had directed for administrative measures to stabilise the prices of essential commodities, besides ensuring their availability to people at fixed prices. The chief minister directed for keeping a vigilant eye on the hoarders and profiteers, besides launching a crackdown on them.