LAHORE: The Punjab government has confiscated over 4,100 tons of sugar from godowns and sold it in the open markets in the ongoing drive against hoarders.
According to official data available with The News, on a single day of February 10, 1,082 raids were conducted across the province in which different hoarded items including 82,153 sugar bags, 10,000 wheat bags, 2,000 pulses bags, 700 rice bags and 2,000 ghee tins were confiscated.
The highest-ever sugar stock was confiscated in Faisalabad, consisting of 15,028 bags, followed by Layyah where 27,700 bags were recovered and sold in the market at official rates.
According to data, 2,900 sugar bags were confiscated in Bahawalnagar, 3,571 in Bahawalpur, 8,560 in Rahim Yar Khan, 2,050 in D G Khan, 150 bags in Rajanpur, 827 bags in Jhang, 4,400 bags in Narowal, 2,000 bags in Gujaranwala, 600 bags in Sialkot, 700 bags in Kasur, 2,000 bags in Sheikhupura, 2,037 bags in Lahore, 2,500 in Vehari 1,000 bags in Lodhran, 750 bags in Okara, 400 bags in Pakpattan, 2,000 bags in Sahiwal, 3,180 bags in Bhakkar, 1,200 bags in Khushab, and 400 bags in Sargodha. The official market price of sugar is fixed by the government at Rs70 per kg. Thus, if the confiscated sugar is sold at the government rate, Rs287.535 million stocks were sold in the market. Further, if the stockiest were manipulating Rs10 per kilogram profit on the confiscated quantity of sugar, the government managed to deprive them of over Rs40 million.
A senior government official said that ongoing drive against the stockists and hoarders would continue as February 10 drive impacted positively on overall market situation.