KARACHI: Rangers, in an operation against sugar hoarders in Karachi aimed at curbing rising commodity prices, confiscated a substantial quantity of sugar worth millions of rupees on Saturday.
Rangers conducted the raids at two separate sugar warehouses located on Hub River Road in Baldia Town. Paramilitary forces’ spokesperson confirmed the recovery of around 140,000 bags of sugar during these operations.
The estimated value of the confiscated sugar amounts to over Rs1 billion. It was revealed by the spokesperson that this sugar, seized during the operation, appeared to be destined for smuggling to Afghanistan through Balochistan. Subsequently, relevant civil authorities have taken control of it for further legal action.
In response to the surging sugar prices, which have reached over Rs200, the government initiated a crackdown against sugar hoarders nationwide to curb the artificial inflation of sweetener prices. This crackdown resulted in the retrieval of thousands of sugar bags and the apprehension of individuals associated with sugar hoarding and selling at exorbitant rates.
However, it’s worth noting that this crackdown also contributed to a decrease in sugar prices within the local market. Weekly inflation data for the week ending on September 14 indicated a decline of 0.25%, following seven consecutive weeks of increase. The government’s efforts against hoarders and smugglers have led to lower prices for chicken and sugar in local markets. Specifically, sugar prices registered a substantial drop of 9.11%, according to data released by the Pakistan Bureau of Statistics (PBS).
