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Tuesday May 17, 2022

Shortly after wheat, Pakistan experiencing sugar crisis now

During former military ruler Gen (r) Pervez Musharraf's era, sugar prices had shot to Rs105 per kilo during Ramazan

By Web Desk
January 21, 2020

ISLAMABAD: Pakistan is now experiencing a severe shortage of sugar as the country falters amid a wheat crisis that left prices skyrocketing to more than Rs12-15 apiece.

During the 15 months of the ruling Pakistan Tehreek-e-Insaf's (PTI) government, sugar prices rose as high as Rs64 a kilo. Over the past week, however, wholesale rates bumped up from Rs64 to Rs74 a kg and an acute shortage surfaced in the country.

While Pakistan produced 600,000 tonnes of sugar last year, the wholesale rate of sugar is now expected to reach Rs80 a kilo next week. Moreover, if the government does not stop sugar export, prices could reach up to Rs100 a kg.

During former military ruler Gen (r) Pervez Musharraf's era, sugar prices had shot to Rs105 per kilo during Ramazan.

It is noteworthy that Pakistan's flour crisis has become acute, affecting major cities such as Karachi, Hyderabad, and Lahore and with prices shooting up to Rs70 a kilo in some areas.

Earlier, Prime Minister Imran Khan took notice of the wheat price hike, ordering a grand operation against hoarders to overcome the crisis.