Islamabad, July 16, 2023 (PPI-OT): Dr. Murtaza Mughal, President of Pakistan Economy Watch (PEW) said on Sunday that the influential sugar mafia has pushed the price of sugar to the highest level in the country's history. If the sugar exports are not stopped, the price will exceed two hundred rupees per kg in the open market, he said. In a statement issued here today, Dr. Murtaza Mughal said that allowing exports despite the decline in production is an injustice to the people which benefits the sugar mafia. Sugar will become scarce in the country before the next crushing season if exports continue at this pace, he warned.
He informed that now sugar is fetching 150 to 160 rupees per kg in different parts of the country, and its price is continuously increasing. If the export of sugar is not immediately banned, it will exceed two hundred rupees per kg, which will be unaffordable for the majority. He said that the people's interests have been put aside to benefit the sugar mafia, and they have been allowed to export the commodity while sugar smuggling is also on the rise. The price of sugar in the wholesale market has increased by Rs19 in twenty days, but the authorities are not paying attention to this, which is encouraging hoarders.
In the present circumstances, the price of sugar will rise further, adding to the misery of millions of people. Dr. Mughal said that compared to last year, a 15% reduction in sugar production has been recorded, but despite this, export has been allowed, and since January, more than 222,000 tonnes of sugar have been exported. At the same time, a large amount has been smuggled to Afghanistan, providing an opportunity for the hoarders. The situation shows the influence of the sugar mafia, he said, adding that if the sugar export continues as it is, the country may run out of sugar before the next crushing season.
For more information, contact:
President,
Pakistan Economy Watch (PEW)
402, 4th Floor, Gulistan Khan House, Fazal-e-Haq Road,
82-East, Blue Area, Islamabad
Tel: +92-51-2510375
Fax: +92-51-2802449
Cell: +92-321-5157671
Email: president@pakistaneconomywatch.com
Web: www.pakistaneconomywatch.com
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