Probe launched into soaring sugar prices

LAHORE: The Food Department has initiated an investigation into the escalating sugar prices, with a one-week target set to reduce the prices.

The investigation, aimed at addressing the surge in sugar prices, has already commenced, and data spanning six months from sugar traders has been obtained. Lists of potential sugar hoarders have been compiled, and a crackdown operation is imminent.

The Secretary of the Food Department, along with the Cane Commissioner, will oversee the task force responsible for this operation. Furthermore, it has been mandated that Commissioners and Deputy Commissioners (DCs) must adhere to the instructions issued by the Task Force Team.

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In a bid to curtail sugar smuggling, heightened security measures have been implemented at key points. The Secretary of the Food Department stated, “We are determined to tackle the issue of sugar smuggling head-on.”

Sugar prices have surged to Rs185 per kilogram in several crisis-stricken cities, resulting in public outcry over hoarding and the illicit trade of this sweetener. At the start of September, sugar was available at prices ranging from Rs185 to Rs200 per kilogram, with expectations of the price crossing the Rs200 mark.

Just a few months ago, sugar was priced at approximately Rs140 per kilogram, but an abrupt supply suspension caused the price to skyrocket. Additionally, the previous government authorized the export of 250,000 tonnes of sugar this year, while little effort has been made to monitor sugar mill stocks and speculative hoarding by investors.