Pakistan : Commissioner Karachi sets retail, wholesale prices of Sugar
Karachi’s commissioner set sugar prices at Rs177/kg retail and Rs174/kg wholesale, effective Wednesday. Crackdowns on hoarding recently dropped ex-mill prices to Rs165/kg, with wholesale at Rs170 and retail between Rs175-180. The Trading Corporation of Pakistan reissued a tender for 100,000 MT sugar import after rejecting earlier bids over high prices.
The Commissioner Karachi has also issued a notification in this regard.
As per the commissioner, sugar per Kilogram price at retail level has been fixed Rs 177. On the other hand, the sugar price at wholesale level has been set Rs 174 per Kg.
According to the commissioner Karachi new prices will be applicable from Wednesday today.
On August 5, It is merit to mention that Sugar prices had dropped in Karachi as the crackdown against sugar mills and hoarding begun showing positive results, according to the Wholesale Grocers Association.
The association reported that the ex-mill price of sugar has declined to Rs165 per kilogram.
In Karachi’s wholesale market, sugar is now being sold at Rs170 per kilogram, while retail prices have dropped to between Rs175 and Rs180 per kilogram.
On August 3, the Trading Corporation of Pakistan (TCP) issued a new tender for the import of 100,000 metric tons of sugar, officials confirmed.
According to TCP, the new tender is scheduled to be opened on August 11.
Read more: Pakistan govt issues tender for 100,000 metric tons sugar import
Sources revealed that a previous tender had also been issued for sugar import, in which four companies had submitted their bids. However, due to higher quoted prices, the earlier tender is likely to be cancelled.
Reportedly, the price quoted in the previous tender for imported sugar was Rs. 227 per kilogram.
Earlier, the International Monetary Fund (IMF) expressed reservations over Pakistan’s decision to offer tax exemptions and subsidies on imported sugar, warning that such measures could jeopardise the ongoing $7 billion loan program.
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Source : ARY News
