Utility Stores to Buy 50,000 MT Sugar in Wake of Surging Prices

The Utility Stores Corporation (USC) has decided to buy 50,000 metric tons (MT) of sugar to ensure its availability under Prime Minister’s relief package. In this regard, USC published a tender notice in major newspapers. The tender notice states that sealed bids are invited for the supply of 50,000 MT of white sugar. The bids under the tender have been invited till 29th September which will be opened on the same day. The USC had earlier bought 50,000 MT of sugar in July at a rate of Rs. 78 per kg. Under the Prime Minister’s relief package, the price of sugar at utility stores is fixed at Rs 70 per kg. It should be noted that the price of sugar has seen an exorbitant increase during the last few days. In Islamabad, the sugar price reached Rs. 100 per kg, while per kg price was exceeding Rs. 90 in other metropolises as well.