Sugar price: Talks between caretaker govt, mill owners successful

LAHORE: ARY News reports that discussions over sugar prices between the Punjab caretaker administration and the owners of sugar mills have been successful.

After three days of negotiations, a compromise was achieved between the owners of the sugar plants and the caretaker administration in Punjab. Mohsin Naqvi, the interim chief minister of Punjab, met with a group of owners of sugar mills.

Crushing of sugarcane will start on October 28 as agreed by all parties. Owners of sugar mills decided to sell sugar to the government of Punjab for Rs140 per kilogram. At one-of-a-kind booths set up in mock marketplaces, the provincial government will sell sugar inventory.

The CM Naqvi said he is aware of the people’s financial struggles.

Small shops around the nation are selling sugar for more than Rs 200 per kilogram.

The cost of sugar has crossed Rs 200 per kilogram.

Although the trade ministry denies there is a shortage, sugar prices have increased to more than Rs200 per kilogram in some places. Residents who were experiencing inflation wished on the government to drastically lower the price of sugar.

Residents of Quetta and Sukkur were required to pay Rs220 per kg for sugar, although sugar could be obtained in Karachi markets for between Rs180 and Rs200 per kg.

Prices for sugar have increased to between Rs195 and Rs200 per kg in Lahore, Jhang, and Faisalabad.

Sugar prices in Balochistan’s retail markets recently reached a record high of Rs 220 per kilogram.

Authorities in Lahore tightened the noose on sugar mill owners and dealers, and an investigation into the rise in sugar prices was launched.

The government was revealed to have accumulated identities of hoarders as well as sales information from sugar merchants. The Punjabi provincial administration sought to undertake a crackdown in order to reduce sugar prices.