MM News

KARACHI: All records of wheat flour and sugar prices in Karachi and other parts of the country have been broken as the price wheat flour has reached 170 and sugar’s 150 per kilogram for the first time in the history of Pakistan.

According to a report, the citizens of Karachi are forced to buy the most expensive flour in the country as the commodity is being sold for up to Rs170 per kilogram in Karachi.

According to Chairman Wholesale Grocers Association Abdul Rauf Ibrahim claimed that the hoarding mafia has created an ‘artificial shortage’ of wheat in interior Sindh and open market of Karachi.

In this regard, the chairman said, the price of a 100/kg bag of wheat in Karachi has increased to Rs 13,200, pushing the price of the commodity to Rs132 per kilo.

Meanwhile, the price of mill flour, ex-mill flour and fine flour has increased by Rs 10 per kilo, taking the rate to Rs170 per kg, Rs160 per kg, and Rs150 per kg, respectively.

Meanwhile, sugar retail price reached Rs150 per kilogram in the metropolis amid the lack of any government interest towards rising commodity prices.

In less than 20 days, the wholesale rates have swelled by Rs19 per kg as speculators and hoarders have taken over the market, wholesalers and retailers said.

According to the Sensitive Price Index (SPI) for the week ending on July 13, sugar retail price in Karachi was hovering at Rs138-150 per kg as compared to Rs128-135 in the preceding week ending June 22.

Country-wide sugar prices had also surged as the national average rate of sweetener rose to Rs135-150 per kg from Rs124-140 some 20 days back.