KARACHI: Vice President of Pakistan Biscuit and Confectionery Manufacturing Association (PBCMA), Javed Sarwana has urged the concerned authorities to take an immediate action against the culprits involved in such sugar hoarding so that the illegal raise in prices be neutralized in the best interest of local industry and overall economy of Pakistan.
He said that the sugar crises in Pakistan have risen to an alarming level, with sugar being sold at Rs151 per kg in the wholesale markets at Karachi.
This is nothing but an attempt by rent seekers for illegal profiteering. This practice of manipulating the market and looting consumers must be stopped.
The downstream industry, using sugar as basic raw material have been jolted by such skyrocketed prices and are left with no option but to close down their factories, if not rescued.
Copyright Business Recorder, 2023
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