A primary sugar manufacturer, JDW Sugar Mills, has told that the rates of sugar will continue to go up due to both a major fall in its manufacture and a significant surge in the production cost during the current year.
A report was given to the Pakistan Stock Exchange on 2 February by JDW Sugar Mills. The manufacturing company is owned by the PTI stalwart Jahangir Khan Tareen. The report claimed that “the sugar prices in the market will naturally remain on the higher side”.
This shows that the Pakistan Tehreek-e-Insaf (PTI) government mght not be able to be successful in bringing down the prices of sugar in the near future.
The price had gone up to to Rs. 100 per kg in several areas of the country including the Islamabad and Rawalpindi during this week.
A few months ago, the prices had surged up to almsot Rs. 110 per kg in the retail market in comparison to around Rs. 80 per kg between March to May during previous year.
The government had credited the price surge to the significant existence of the sugarcane contractor mafia.
The company stated: “Import at this stage will cost over Rs. 110 per kg with all applicable taxes,”
