President of Pakistan Economy Watch (PEW), Dr Murtaza Mughal, said the price of sugar is increasing across the country due to continuous exports. He said that the unabated exports allowed to please sugar barons are affecting the people as it is expanding overall inflation. T Until April, two hundred and twelve thousand tons of sugar have been exported, while this process continues without interruption during ay, said Dr Murtaza Mughal, President of PEW.
The interests of the masses have been compromised by allowing the export of sugar in such huge quantities. Sugar was not exported in the fiscal year 2022. Still, the current government allowed sugar export in the fiscal year 2023 despite the record inflation, the prices of which started increasing in the local market.
In February, more than 42 thousand tons of sugar were exported; in March, about 130 thousand tons of sugar were exported, while in April, more than 40 thousand tons of sugar were exported, which increased the price of sugar up to fifty rupees per kg.
He informed that in May, the sugar exports continued unabated, pushing up prices in the local market.
Dr Mughal said that with an increase in the price of sugar by one rupee per kg, five billion rupees go out of the pockets of the people and into the pockets of the sugar mafia.
He said that the sugar mafia is also involved in smuggling apart from the exports. As a result, the country is suffering heavy losses. However, this illicit trade will continue because many important personalities are interested in it.
Dr Mughal said that the policy of closing down industries and making millions unemployed to reduce the current account deficit is wrong, due to which the GDP is shrinking and the value of Pakistan’s currency is even lower than that of Sri Lanka.