Increase in demand, delay in crushing caused sugar price hike Says Spokesman Finance Ministry

By Muhammad JuniadPublished On 04 Jan 2023

KARACHI: Spokesperson of Finance Ministry Muzzammil Aslam on Saturday said that increase in demand for sugar and delay in crushing of sugarcane caused a hike in the price of the commodity.

Muzzammil Aslam, while addressing a press conference, said that the government has had sugar stock for 22 days but the Sindh government is not asking the Centre for cheap sugar nor is it starting crushing of sugarcane.

He said that price of sugar is a provincial matter and because of that Punjab government raided several warehouses which were hoarding sugar which reduced the price of the essential commodity but on the other hand, the Sindh government did not take any such action and is just busy in blaming the federal government for the hike.

It merits mention that price of sugar has significantly increased in past few days with price of the commodity reaching Rs160 per kg in some parts of the country.

Dealers of sugar have blamed delays in the crushing of sugarcane for the price hike and warned that the price will increase further in the coming days.