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LAHORE: The price of sugar has surged by Rs4 per kilogram, reaching an official rate of Rs 142/kilogram. However, in local markets, it is being retailed at Rs150 per kg.
According to the dealers association, the wholesale price stands at Rs 144 per kg, while it is being sold at Rs 150/kg locally, as reported by ARY News.
In a report released yesterday by the Pakistan Bureau of Statistics (PBS), the weekly inflation, as measured by the Sensitive Price Indicator (SPI), saw a decrease of 0.79 percent across various consumption groups for the week ending April 18.
The PBS data reveals that out of 51 items, prices increased for 22, decreased for 11, and remained stable for 18.
Meanwhile, Federal Minister for Commerce, Jam Kamal Khan, held crucial meetings with representatives from the Sugar Mills Association and Ethanol Manufacturer Association separately to address their industries’ concerns.
The objective of these meetings was to facilitate dialogue and find practical solutions to the challenges faced by the sectors. The associations commended the approach of consulting stakeholders before making significant decisions.
During the discussions, Minister Jam Kamal reiterated his commitment to advocating for the interests of industrialists and addressing their concerns to support local industries while also boosting export volumes to enhance foreign reserves.
The Sugar Mills Association expressed concerns regarding the expected rise in tariffs for Molasses exports. Members emphasized the importance of promoting Molasses exports to strengthen foreign reserves.