World News | Pakistan's Whole Sale Sugar Markets on Verge of 'shut Down'

Islamabad [Pakistan], August 28 (ANI): President of the All-Pakistan Traders Association (APTA) Ajmal Baloch stated that the sugar markets in Islamabad will remain indefinitely shut due to a shortage of supplies and disputes over prices, ARY News reported.

Ajmal Baloch criticised the government for failing to resolve the ongoing wholesale market shutdown, stating that the logic is not understandable, given that the price is being purchased at high rates and sold at a loss.

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He demanded that authorities immediately release sugar stocks to retail and wholesale markets, cautioning that continued shortages would compel traders to shut down grocery stores and wholesale hubs nationwide.

Earlier this month, Baloch revealed that most sugar mills in Central Punjab had exhausted their reserves, while mills in South Punjab had halted supply for four consecutive days--triggering the current sugar crisis. He noted that around 70 per cent of mills in Central Punjab are now non-operational due to exhausted reserves, ARY News reported.

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Baloch also condemned the government's crackdown on retailers, arguing that sealing shops without sugar was unjust. "Arresting grocery store owners won't fix the problem," he said. "We need to talk to the people involved to solve this issue."

Experts said that the crisis is due to weak regulations, the political clout of sugar mill owners, and declining production. Climate-related issues have reduced the country's expected sugar output from 7 million to 5.8 million metric tons this year, worsening the shortage, ARY News reported.

Earlier, Short-term inflation, measured by the Sensitive Price Index (SPI), increased by 2.3 per cent year-on-year during the week ending August 21, mainly due to higher prices of sugar and gas, the Pakistan Bureau of Statistics (PBS) reported on Friday.

This marks the fifth consecutive weekly rise in SPI-based inflation. (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)