ISLAMABAD: Despite arrival of imported sugar in the market, the commodity prices are continually going up as on Monday sugar prices in wholesale market registered an increase of Rs100 per 49.50kg bag from Rs5,250 per bag to Rs5,350 per bag.
Wholesalers and retailers told Business Recorder that with the arrival of imported sugar, the prices have further escalated, saying before the arrival of imported sugar in the market, the commodity was available below Rs4,700 per bag, but after the arrival of imported sugar, the prices have shot up to Rs5,350 per kg mark.
They said that not only the sugar prices but the prices of all other commodities were witnessing an upward trend, adding that the Prime Minister (PM), Imran Khan, created 'Tiger Force' to monitor the price hike but instead of checking the prices the Tiger Force was harassing the business community.
Traders said that the Tiger Force was insisting on selling of sugar at Rs105 per kg but how could they sell it when it costs over Rs107 per kg.
They said that same was the situation with wheat flour, which in wholesale market costs Rs980 per 15kg bag, and in retail was being sold at Rs1,010 to Rs1,020 per bag, but the Tiger Force members were insisting selling it at Rs860, which was not possible.
The traders said that the government had ordered to import almost three million tonnes of wheat to check the increasing prices but since the arrival of the imported commodity, the prices had witnessed no reduction. In retail market, some traders are selling sugar at Rs112 per kg and some at Rs110 per kg, while wheat flour is being sold at Rs75 per kg. Moreover, flour millers have linked supply of government-sponsored wheat flour bag of 20kg costing Rs860 to retailers with the purchase of 15kg bag. Owing to the condition set by the flour millers, most of the retailers are unable to purchase government-sponsored wheat flour as a result it is not available on majority of the shops. Mohmmad Shaifiq Abbasi, a grocery trader said that just within past one month b-grade ghee and cooking oil price have reached Rs2,840 per carton from Rs2,350 per carton, while in retail it is being sold at Rs185 per pack of 900 grams.
He said that rice prices had also gone up as best quality basmati rice was being sold at Rs3,900 per 25kg, normal quality basmati rice at Rs3,500 per 25kg, and prices of other rice brands had also gone up.
The government has provided billions of rupees in subsidy to the Utility Stores Corporation (USC) for the provision of subsidised sugar and wheat flour to the people, but Business Recorder has repeatedly observed serious shortage of the commodities at the USC outlets.
Copyright Business Recorder, 2020
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