LHC moved against sugar price hike | Pakistan Today

LHC moved against sugar price hike

LAHORE: A petition was filed in the Lahore High Court (LHC) on Thursday, against an increase in the sugar price.

The petitioner, in his plea, stated that the sugar mafia has jacked up the sugar price by creating an artificial shortage. “Production of sugar is far beyond the country’s demand and need.”

The LHC has been pleaded to pass orders to initiate crackdown against the hoarders and seek a complete record of sugar stocks, its demand and supply.

Furthermore, the petition requests the court to pass a ruling to halt export of sugar.

Yesterday, Punjab Chief Minister Usman Buzdar had said that his government was taking steps to stabilise sugar prices in the province.

Sugar has registered 10 rupees per kilogram in past one week, the wholesale rate of the commodity has risen from Rs64 to Rs74 per KG and an acute shortage surfaced in the country.

Lahore’s sugar traders association officials have claimed that the ‘speculation mafia’ has sparked the hike in sugar prices. The commodity is being sold in Lahore at Rs 80 per KG. It has become difficult for the common man to buy sugar.