Karachi Commissioner Sets New Sugar Prices Today

Commissioner Karachi Hassan Naqvi has officially set new sugar prices for retail and wholesale markets on Wednesday. A notification was also issued to enforce the updated rates. According to the announcement, the retail price of sugar is now fixed at Rs177 per kilogram. Meanwhile, the wholesale price has been set at Rs174 per kilogram. These new prices are effective immediately.

This move comes after a recent decline in sugar prices due to government action against hoarding and price manipulation. On August 5, the Wholesale Grocers Association reported that the crackdown on sugar mills had begun to show results. The ex-mill price of sugar had fallen to Rs165 per kilogram. In the wholesale market, sugar was being sold for Rs170 per kilogram, with retail prices ranging from Rs175 to Rs180.

In another development, the Trading Corporation of Pakistan (TCP) recently issued a tender to import 100,000 metric tons of sugar. The new tender, opened on August 11, aims to stabilize market supply and prices further. Previously, a tender was floated but faced rejection due to high quoted prices. Four companies had submitted bids, but the rates offered were deemed too expensive.

Reports say that the earlier tender quoted prices as high as Rs227 per kilogram for imported sugar. This raised concerns among officials and prompted the need for a fresh tender. The government is trying to manage both local production and imports to balance demand and prices. However, challenges remain due to international price volatility.

Meanwhile, the IMF has raised concerns over Pakistan’s tax exemptions and subsidies on sugar imports. The international lender warned that such measures could affect the ongoing $7 billion loan program. The IMF urged the government to avoid policies that could strain fiscal discipline. With local prices now regulated, authorities hope to ease consumer pressure while satisfying global economic commitments.