HI
Dear Mesahil,
Yourself and Your wife are both eligable to sponsor Your both parents, but unfortunately You can not sponsor Your sisters. The best way to do this : Both of You sponsor Your both parents, whey Your parents are here in canada, those parents can sponsor both of Your sister ( their daughters).
As for financial requirements both of You are meeting those requirements then I don't see any problems of Your sponsorship being denied. Unfortunately a process of bringing your sisters going to be very long, just depends how soon both of Your parents can be here in canada. Good luck and wish both of You all the best!!
If the OP submits an application for the parents as long as the sisters are under 22 and unmarried and still dependents, they are included in the application. The OP should note that to meet the LICO he and his spouse must have EARNED the LICO in the year prior to the submission of the application.
PMM