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February 16, 2020

Strict govt action helping overcome sugar, flour crises

Top Story

February 16, 2020

LAHORE: The turmoil created in the sugar and wheat markets due to apathy of the administration has completely subsided after strict administrative measures were adopted.

Both the commodities are now freely available -wheat at reasonable rate but sugar at very high rate in the open market.

The provincial government has supplied sufficient quantity of sugar at the utility stores where it is being sold at Rs68 per kg. However, in the open market, it is still being sold for Rs80 per kg, while its wholesale rate is Rs75 per kg. The price has come down from Rs95/kg.

The government strategy of providing the confiscated sugar bags at utility stores has started yielding results, as the wholesale prices are gradually reducing. Now, majority of consumers are buying sugar from utility stores at the government fixed rate.

Experts rue the slow response of the provincial and district administrations in apprehending hoarders, who had been systematically increasing the prices through controlled releases. Had an action been taken early, the crisis would have never occurred. There is no shortage of wheat and sugar in the Pakistani markets, particularly in Punjab, but few influential vested interests managed to mint lot of money during the crisis. The credit for highlighting issue goes to the national media that forced the government to take action against influential hoarders.