Steps underway to stabilise sugar prices in Punjab: Usman Buzdar

LAHORE: Punjab Chief Minister Usman Buzdar has said on Wednesday that his government was taking steps to stabilise sugar prices in the province, ARY News reported.

“Handmade increase in sugar prices would not be tolerated at any cost”, Usman Buzdar said in his statement issued here from Lahore, today.

He said his government is pursuing policy to provide maximum relief to the people. Usman Buzdar said no one would be allowed to jack-up the prices.

Punjab chief minister ruled out impression of shortage of any shortage of sugar in the province and directed the concerned authorities to take every possible effort to stablise the prices.

Read more: Price of sugar goes up in wholesale, retail markets of Karachi

Sugar, an essential ingredient in Pakistani cuisine, has registered 10 rupees per kilogram in past one week, the wholesale rate of the commodity has rose from Rs64 to Rs74 per KG and an acute shortage surfaced in the country.

Lahore’s sugar traders association officials, have claimed that the ‘speculation mafia’ has sparked the hike in sugar prices. The commodity is being sold in Lahore at Rs 80 per KG. It has become difficult for common man to buy sugar.

Meanwhile, industry sources have claimed that hoarding of the commodity and speculation trade have triggered the hike in sugar price in the country.