Islamabad, November 05, 2021 (PPI-OT):Former President of Islamabad Chamber of Commerce and Industry (ICCI) Dr. Shahid Rasheed Butt on Friday said despite the claims of a record crop of sugarcane, the price of sugar has gone up to Rs160 per kg which is a deadly attack on the people. The sugar mills mafia has raised the price of sugar Rs55 per kg in one week, which is condemnable as it is fanning chaos, he said.
On the one hand, claims are being made to control the price of sugar but on the other hand, the owners of sugar mills have been given permission to plunder the public which is an administrative collapse, he added. In a statement issued here, Shahid Rashid Butt said that the millers have intestinally broken the supply chain, rigged the market and spelled a price disaster ten days before the start of the crushing season which is unacceptable.
The people will not accept the hike as the sugar mill owners continue to steal billions of rupees which has now reached Rs265 billion under the present government, he observed. The business leader said that the monthly consumption of sugar in Pakistan is 4.5 million tonnes and an increase of one rupee per kg in the price of sugar would benefit the sugar mills mafia to the tune of Rs5.25 billion.
He noted that despite billions of rupees of imports and hefty subsidies, the establishment of Sugar Committees and Sugar Commission, a probe by the Competition Commission of Pakistan and other bodies, the mafia’s illegitimate profits have increased instead of falling while the government is still blaming the opposition for the mess which no one believes.
Under the present government, the price of sugar has gone up from Rs52 to Rs150 and it is expected to increase further. Presently mills are producing sugar at Rs63 per kg, which is now being sold at Rs150 per kg, which is unacceptable. He said that a package of Rs120 billion has been announced for the poor people which will remain in force for six months. This package will benefit a household to the tune of Rs154 per month, which is a joke in these circumstances.
For more information, contact:
Dr. Shahid Rasheed Butt
Consul General Ghana
Former President ICCI
Former Patron ICST
Tel: +92-333-5132199, +92-51-2822571
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