The prices of various edible items, including sugar, have witnessed an upward trend following the imposition of several taxes in the budget for the fiscal year 2024-25.
The federal government presented the tax-heavy budget on June 12, adhering to the conditions set by the International Monetary Fund (IMF) for approving another bailout package for the financially struggling nation.
Prime Minister Shehbaz Sharif has acknowledged that the budget for the new fiscal year was prepared under the scrutiny of the global lender.
Implemented on July 1, the budget has begun to impact the public, as prices of essential commodities have surged in both wholesale and retail markets.
The budget has particularly caused an increase in sugar prices nationwide, adding an extra burden on the populace.
The price of a 50-kg bag in the wholesale market has risen by Rs250 to Rs6,950, compared to the previous rate of Rs6,700 per bag. The wholesale price per kg of sugar now stands at Rs139.
The retail price per kg of sugar ranges between Rs145 and Rs150 in July 2024, with further increases anticipated.
