Govt urged to ban sugar export to control increasing prices

LAHORE: The Progressive Group comprising the members of the Lahore Chamber has expressed concern over the daily increasing prices of sugar and demanded the government to ban further export of sugar.

The Progressive Group President Khalid Usman, Senior Vice President Muhammad Arshad Chaudhry and the LCCI executive committee members Muhammad Ejaz Tanveer and Haji Riaz Ul Hassan in a joint statement here on Thursday said that the unbridled rising sugar prices are not only affecting the industries but also the common man. They claimed that food-related industries, hotels, restaurants, beverages and most of all confectionary sector are affected by this and it is directly removing the products related to these industries from the reach of the common man.

The leaders of the Progressive Group further said that not only the sugar mafia but also hoarders are behind the rising sugar prices and the government should take strict notice of it. Inflation is already on the rise and it is affecting the household budget of the common man.

They also said that due to the unrestrained export of sugar, not only the prices are increasing, but also the fear of its shortage is increasing and in such a case the government will have to import sugar which is a loss to the country's treasury and burden on national foreign exchange reserves.

Copyright Business Recorder, 2023