KARACHI: Commissioner Karachi Hassan Naqvi has officially announced revised sugar prices for the city, issuing a notification to enforce the rates from Wednesday.
According to the decision, the retail price of sugar has been fixed at Rs177 per kilogram, while the wholesale price is set at Rs174 per kilogram. The move comes amid fluctuating market conditions and ongoing government efforts to control commodity prices.
Earlier in August, sugar prices in Karachi showed signs of decline after authorities launched a crackdown against hoarding and sugar mills. The Wholesale Grocers Association reported that ex-mill rates dropped to Rs165 per kilogram, while wholesale prices stood at Rs170 per kilogram, and retail rates hovered between Rs175 and Rs180 per kilogram.
Meanwhile, the Trading Corporation of Pakistan (TCP) had invited bids through a fresh tender to import 100,000 metric tons of sugar, with the opening scheduled for August 11. Sources disclosed that a previous tender had also been floated, attracting four companies. However, due to the high bids—quoted around Rs227 per kilogram—the earlier process was expected to be scrapped.
In the backdrop of these developments, the International Monetary Fund (IMF) raised concerns over Pakistan’s decision to extend tax exemptions and subsidies on imported sugar. The global lender cautioned that such relief measures could pose risks to the ongoing $7 billion bailout program.
