Sugar Crisis Intensifies At Utility Stores

The sugar crisis at Utility Stores (USC) has intensified in the past few days with financially less fortunate citizens having little to no access to the subsidized stock at the state-run outlets. Well-informed sources told ProPakistani that USC has received a tender offer of Rs. 130 per kg of sugar on its latest bid to procure the commodity. The tender committee has opened a tender to procure 25,000 metric tons of sugar. So far, only JDW Sugar Mills Limited (PSX: JDWS) has responded to the tender and proposed to provide sugar at the rate of Rs. 130 per kg. Meanwhile, the tender committee will review all bids when received as per the rules of the Public Procurement Regulatory Authority. Earlier, an offer of Rs. 122 per kg of sugar was received but Utility Stores canceled the bid citing technical reasons. Pertinently, retail and wholesale sugar prices have jumped Rs. 40 per kg and Rs. 2,000 per 50 kg in the last three months against government recommendations.