LAHORE
Pakistan Economy Watch president Dr. Murtaza Mughal said influential mafia drove sugar price to highest level in history and now is available at 150/160pkr in country.
Price of sugar is still rising, he said.
He further warned that if export of sugar not stopped the price may cross the figure of 200pkr.
In a statement on Sunday, Pakistan Economy Watch president Dr. Murtaza Mughal said that interest of people placed on back burner for the interest of Sugar mafia and they are allowed unrestricted export of sugar. whereas smuggling is also on its peak.
He said sugar price increase around 19pkr in last 20 days but authority is not paying attention this side due to which people are daring to hoard sugar.
Taking interest of situation many mills has also reduced their sale so the price may rise and they can sell it on high price, he added.
Dr.Mughal further compared the production of sugar which is 15% lesser than last year but despite this export allowed.
He said from January till now almost 225,000 tons sugar has been exported and huge amount has been smuggled which gives the idea of influence of sugar mafia.
He warned that if sugar exports continues with this power it will disappear in market before the start of next year crushing season.
