Tuesday September 21, 2021

Market-based sugar price urged

July 28, 2021

KARACHI: Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded the government to withdraw the recently issued sugar pricing notification and allow the market to dictate the price.

Terming the notification “meddling” by the government, FPCCI Senior Vice President Khawaja Shahzeb Akram said the government should not take these decisions without consulting the sugar industry.

He said the price notification was not based on ground realities and good business practices, and warned that the decision would impact sugar consumers negatively, while harming the future of sugar industry, sugarcane growers, and other allied sectors. The FPCCI has been consistently asking the government to make business decisions in consultation with stakeholders.

Akram emphasised that market forces and competitiveness should be allowed to determine the price of sugar, which would create a win-win situation for all: government, businesses and end-consumers.