The price of sugar in Karachi’s wholesale market surged by Rs5 per kg on Wednesday, reaching Rs163 per kg, just a day after it was available at Rs158 per kg.
Traders attribute the sharp price hike to the ongoing investigation by the Competition Commission of Pakistan (CCP) into sugar cartelization, claiming that instead of controlling price manipulation, the probe has exacerbated inflation in the sugar sector.
Furthermore, traders have criticized the government for enabling the rise in sugar prices through recent policies, accusing the authorities of providing legal support to inflation rather than addressing it.
