Sugar disappeared from the shelves of retail shops after the Punjab government fixed its ex-mill price at Rs 165 per kg and the retail price at Rs173.
Sugar mills have reportedly refused to supply at government-fixed prices, prompting dealers to suspend distribution across the province, allegedly offering the commodity at Rs176 per kg, triggering a standoff with brokers, wholesalers, and retailers.
As a result, consumers are finding it challenging to purchase sugar at the fixed prices, and some retailers are reportedly unable to operate at a loss. Retailers are facing difficulties in procuring sugar and selling it at the fixed price, with some suggesting they cannot operate at a loss.
The situation has led to a shortage of sugar in both wholesale and retail markets.
Reports suggest that some individuals may be hoarding sugar, exacerbating the shortage and driving up prices in the black market.
Meanwhile, the National Assembly’s Public Accounts Committee (PAC) was informed that, over the past year, 67 sugar mill owners exported 740 million kilograms of sugar valued at Rs. 112 billion.
During a PAC meeting chaired by Member of the National Assembly (MNA) Junaid Akbar, the names of sugar mill owners were presented at the insistence of opposition members. The committee was also briefed on sugar mill operations and the import and export of sugar.
It was revealed to the committee that WD Sugar Mills exported the largest quantity, amounting to Rs. 11 billion in value. Hamza Sugar Mills exported sugar worth Rs. 5 billion, while Ramzan Sugar Mills exported sugar valued at Rs. 2.4 billion.
During the briefing, the PAC was also informed that Tandlianwala Sugar Mills exported sugar worth Rs. 6 billion, and JK Sugar Mills exported over Rs. 4 billion worth of sugar.
