FPCCI demands withdrawal of sugar pricing notifications

Web DeskWeb Editor

27th Jul, 2021. 04:00 pm
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KARACHI: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) has demanded the federal and provincial governments to withdraw the recently issued sugar pricing notifications, a statement said on Tuesday.

Khawaja Shahzeb Akram, senior vice president of the FPCCI, said that the sugar pricing mechanism should be allowed according to the market conditions.

Expressing concern over the actions of the government of Pakistan and the provincial governments on their meddling and determination of the price of sugar, he said, the government should not take these decisions without consulting the stakeholders of the sugar industry.

Akram said that these decisions have not been based on ground realities and good business practices and would immediately impact ordinary sugar consumers negatively and harm the future of the industry, sugarcane growers and other allied sectors.

The FPCCI has consistently urged the government to take decisions in consultation with the businessmen and stakeholders, he said.

However, in general, it has been observed that the government circles and departments make decisions on their own; which in turn cause challenges for the business, trade and industrial sectors.

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

The FPCCI reiterated that research has also shown that the price stability is only achieved and remains sustainable, if determined by the market forces.

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