Sugar prices see big drop in Pakistan
07 November, 2024 19:12
The Utility Stores Corporation (USC) has announced a reduction in sugar prices across the country, cutting the cost by Rs 13 per kilogram.
Effective immediately, the new price of sugar at Utility Stores is Rs 140 per kilogram, down from the previous rate of Rs 153 per kilogram.
The price reduction follows an agreement between USC and sugar mills. The corporation had requested the mills to lower their prices, and in response, sugar mill owners agreed to reduce the cost by Rs 17 per kilogram.
The Utility Stores Corporation had initially purchased 12,000 metric tons of sugar at Rs 137 per kilogram. However, due to additional costs, the corporation had been paying around Rs 152 per kilogram.
The recent price drop aims to ease the financial burden on consumers, particularly in light of rising food costs.
In related news, Punjab Chief Minister Maryam Nawaz Sharif has forecasted a significant increase in the province’s wheat and rice production.
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