KARACHI – Khawaja Shahzeb Akram – SVP FPCCI – has demanded that the recent pricing notifications issued by the Government of Pakistan and the provincial governments should be withdrawn; and, the pricing mechanism should be allowed to operate according to market conditions.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 that the government should not take these decisions without consulting the stakeholders in the sugar industry.
Khawaja Shahzeb Akram added that these decisions have not been based on ground realities and good business practices and these decisions will immediately impact ordinary sugar consumers negatively and harm the future of sugar industry, sugarcane growers and other allied sectors.
The FPCCI has consistently urged the government to make business decisions in consultation with businessmen and stakeholders. However, in general, it has been observed that government circles and departments make decisions on their own; which in turn cause challenges for the business, trade and industrial sectors.
Khawaja Shahzeb Akram emphasized that the market forces and competitiveness should be allowed to determine the price of sugar and it will create a win-win situation for all: government, businesses and end-consumers.
FPCCI demands that all recently issued sugar pricing notifications – federal and provincial – should be withdrawn and it reiterates that historical research also seconds that price stability is only achieved and remains sustainable, if determined by market forces.
