| GEO Business|
| Sugar price surge in Karachi wholesale market|
| Updated at: 1222 PST, Monday, March 09, 2009|
KARACHI: Karachi wholesale market sugar price during the last fortnight recorded a rise by Rs2 per kilo.
Karachi Retail Grocers Group (KRGG) secretary general, Farid Quraishi told that despite low-purchasing power in the market, sugar price in the wholesale markets during the last fortnight surging by Rs2 per kilo being sold at Rs40.50 per kg, while in the retail markets at Rs43.44.
Analysts told that prices all over the world were seen on the decline due to unprecedented downward spiral of the world economy, but the situation in Pakistan was quite contrary, where prices continued rising despite substantial fall in purchasing power, which they attributed to bad governance.