The federal government has set the retail price of sugar at Rs 88.24 per kg and the factory price at Rs 70 per kg, while asking relevant authorities to take action against mills, dealers, distributors and retailers selling the product at higher prices.
Previously, the retail price of sugar – as set by the government – was Rs 68 per kg despite the fact that sugar is actually sold in different parts of the country at around Rs 104 per kg.
A day earlier, the government had raised the price of sugar at the Utility Stores Corporation (USC) – a chain of stores providing basic commodities at subsidized rates – from Rs 68 per kg to Rs 85 per kg.
The Comptroller General of Prices (CGP), a department of the Ministry of Industry and Production, issued a notification on Saturday, stating that exercising its powers under section 6 of the Prevention of price control and hoarding, he had set the retail price. of sugar at Rs88.24 per kg.
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The CGP also called on the provincial government as well as the administration of the Capital Territory of Islamabad (TIC) to take action against factories, dealers, distributors and retailers engaged in hoarding the merchandise and selling at a price higher than the approved prices.
He also asked the authorities to submit weekly reports on their crackdowns. The notification went into effect immediately and will remain so until November 15, 2021.
Despite the record sugarcane harvest, the Cabinet’s Economic Coordination Committee (ECC) on Friday approved the import of an additional 200,000 tonnes of sugar, bringing the total to 300,000 tonnes in three weeks.
“The ECC also approved the price revision of three essential products namely atta (20 kg bag) to Rs 950, ghee (per kg) to Rs 260 and sugar (per kg) to Rs 85, due to a growing gap between subsidized prices offered by USC and prevailing market prices, ”the finance ministry said.