Federal Minister for Industries and Production, Rana Tanveer Hussain, has dismissed reports regarding an increase in the price of sugar in the country.
In a statement issued, the minister clarified that the current price of sugar is below Rs140 per kilogram, with the retail price standing at Rs130 and the wholesale price ranging between Rs124 and Rs125 respectively, Express News reported.
Rana Tanveer Hussain further stated that under the direction of PM Shehbaz Sharif, the government is closely monitoring the sugar prices. He urged the media to play a responsible role and refrain from spreading misinformation.
The federal minister assured the public that the government is taking effective measures to control the price of sugar, and emphasized that the price remains under control.
The statement comes after certain media outlets reported an increase of Rs10 to 15 per kilogram in the price of sugar.
Retailers are currently selling sugar at prices ranging from Rs130 to 135 per kilogram, while the ex-mill rate has increased to between Rs115 and 125 per kilogram.
Smaller shopkeepers, however, have raised prices by Rs20, with sugar being sold at Rs140 to 150 rupees per kilogram.
Dealers have indicated that the wholesale price of sugar could rise to Rs128 per kilogram in December, with projections suggesting it may reach Rs133 per kilogram in January.
Additionally, there are concerns that the price could increase further by Rs8 per kilogram in January due to future trade speculation.
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