Rangers seize sugar worth millions of rupees in Karachi

• Rangers recover 140,000 bags of sugar.
• Estimated value of seized sugar over Rs1 billion. 
• Price of sugar decrease by 9.11%: PBS data. 

KARACHI: Rangers seized a huge amount of sugar worth millions of rupees as a part of an operation against the sugar hoarders in Karachi to end an increase in the prices of the commodity, The News reported Saturday. 

Raids were conducted at two different warehouses of sugar on Hub River Road in Baldia Town where they recovered approximately 140,000 bags of sugar, said the paramilitary forces' spokesperson. 

The estimated value of the seized sugar is over Rs1 billion.

The spokesperson added that the seized sugar was apparently to be smuggled to Afghanistan through Balochistan and has been handed over to the relevant civil administration for further legal action.

The price of sugar had soared to over Rs200 after which the government announced a crackdown against the sugar hoarders across the country to control the artificial increase in the sweetener’s prices. 

The crackdown recovered thousands of bags of sugar and saw many arrests of sugar mafias who were hoarding the sweetener and selling it at exorbitant rates. 

However, the crackdown also led to a decline in the prices of the commodity in the local market. 

Weekly inflation declined 0.25% in the week ended on September 14, after staying up for seven consecutive weeks, as prices of chicken and sugar slumped in the local markets following a government crackdown on hoarders and smugglers.

The price of sugar saw a decrease of 9.11%, according to the data published by the Pakistan Bureau of Statistics (PBS). 

Prices of sugar across country

The retail price of sugar had soared to over Rs200/kg in the Balochistan border belt with Afghanistan; it was being sold at Rs220/kg in Noshki. The residents of Quetta, Kohlu and Washik were made to buy sugar at Rs200/kg.

In Peshawar and Charsadda in KP, the price of sugar went through the roof as well. It was being sold at Rs190 to Rs205/kg. Its price surged to Rs180/kg in Mansehra, Abbottabad and Swat while the commodity’s price had swelled to Rs190/kg in Gilgit.

The people of Gujranwala, Bahawalpur, Jhang and Gujrat witnessed the price hike of the sweetener up to Rs185 and Rs190/kg. Its price hovered around Rs180-185/kg in Lahore, Karachi, Sukkur, Thatta, Multan and Rahim Yar Khan.

Interestingly, sugar crossed the Rs100/kg mark briefly in 2021 while it settled at around Rs125/kg in the latter half of the last year.

However, this year, despite the government’s attempt to fix the price of commodity at Rs98/kg, it was feared to balloon to over Rs200/kg in the entire country, the market insiders had said. 

The Lahore High Court LHC had issued a stay order against the official notification of controlled sugar price, said an official of the provincial Food Department.

In comparison, according to data collected by PSMA, the average retail flour price was Rs101/kg in 2020-21 and Rs116/kg in 2021-22. Likewise, the price of fresh milk was reported at Rs105/litre in 2020-21 and Rs114/litre in 2021-22.

However, the average retail sugar price in 2021-22 remained at Rs94 and Rs96/kg respectively, according to the Pakistan Sugar Mills Association.