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HomeUncategorizedSugar mill owners mint Rs230 bn

Sugar mill owners mint Rs230 bn

ISLAMABAD: Sugar prices are rising again and it is being sold at Rs110 in retail market. “The sugar mafia is winning despite the claims of the prime minister regarding the action against the cartelisation of sugar.”

According to figures released by the government, the sweetener is now being sold for up to Rs110 per kilo

in different parts of the country. The sugar mills owners also earned excessive Rs230 billion on account of the government recommended ex-mills rate. Only Rs32 billion profit was earned in the first seven months of current year by the sugar mills owners. These figures were presented by Shahzeb Khanzada in his programme ‘Aaj Shahzeb Khanzada Key Saath’.

He said that this year the government has fixed the support price of sugarcane as Rs200 per 40kg but growers refused to sale the sugarcane at this prices.

Hence the sugar mills owners compelled to purchase the sugarcane at price of Rs200 per 40kg and raised the prices of sweetener up to Rs100 per kg.

While giving his views the vice president of KCCI Shamsul Islam has said that till June 30 the price of sugar was Rs92.50 per kg and now the sugar mills owner are raising the prices on daily basis.

Now the international prices of sugar has declined but here the sugar prices are raising continuously.

The above news was originally posted on www.thenews.com.pk

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