Sugar millers earned over Rs500bn due to price rise: PTI

The PTI has alleged that sugar mill owners have earned over Rs500 billion during the last four months due to the rise in the commodity’s price. Muzzammil Aslam, PTI spokesperson on economy and finance, said on Thursday the price of sugar has doubled during the last three to four months, further compounding the miseries of the inflation-ridden and poverty-stricken masses. In a video shared on social media platform X, formerly Twitter, Mr Aslam claimed the commodity was available at Rs 80 to 85 per kg 16 months ago when the PTI government was ousted in April 2022. Now, it is being sold at Rs150 to Rs170 per kg — an increase of almost Rs85. Breaking down the impact of this price hike, he claimed the annual consumption of sugar in Pakistan is six million tonnes. If the price went up by Rs85 per kg, sugar mill owners earned Rs85,000 per tonne, he said, adding that in total, sugar barons would have earned Rs510bn only due to the hike in price in the past three to four months.