The price of sugar has skyrocketed once again in the retail market and reached Rs95 per kg from Rs92 after an increase of Rs3 per kg, reported 24NewsHD TV channel on Wednesday.
On the other hand, in the wholesale market, the price of a 100kg sack of sugar has increased from Rs8,500 to Rs8,800.
It has been reported that the sugar mill owners have reduced the supply of sugar which has led to shortages and increased prices.
The sugar dealers said if the government does not take notice it is feared that the sugar price may exceed Rs100 per kg, the TV channel reported, quoting its sources.
In reaction, consumers said despite the arrival of new sugar in the market the reason for the increase in sugar price is not understandable, the TV channel reported.
Earlier, Punjab Chief Minister Usman Buzdar had directed for administrative measures to stabilise the prices of essential commodities, besides ensuring their availability to people at fixed prices.
The chief minister directed for keeping a vigilant eye on the hoarders and profiteers, besides launching a crackdown on them.