Former finance minister and economist Miftah Ismail on Thursday criticised the federal government for allowing electricity and sugar prices to get to an exorbitant level.<\/p>\n
Speaking at a press conference in Karachi, Miftah criticised the current government for allowing sugar mill owners to export for profits.<\/p>\n
\u201cSix months ago, the government permitted the export of 5 to 6 million tonnes of sugar, so that Sindh and Punjab\u2019s sugar mill owners can get dollars and relief,\u201d he said.<\/p>\n
He said he wanted to remind the current government that when the former premier Imran Khan had exported sugar, PML-N leaders had criticised the move, calling it \u201ctheft and a decision influenced by powerful sugar mills\u201d.<\/p>\n
\u201cToday, I ask Shehbaz Sharif sahab, who influenced your decision to export sugar?\u201d he rhetorically asked.<\/p>\n
\u201cBecause you had promised \u2014 when sugar was Rs80 to 90 \u2014 that you won\u2019t let it exceed Rs140,\u201d he highlighted, adding that \u201cexports started when sugar was at Rs115 \u2014 now it was at Rs175\u201d.<\/p>\n
\u201cPakistani people should know why is sugar expensive, why are you cutting solar energy bills, and why are you making people\u2019s electricity expensive?\u201d he asked.<\/p>\n
After repeated failures of the federal and provincial governments to provide sugar at the stipulated rate of Rs130 per kilogramme, the Competition Commission of Pakistan (CCP) too has entered the scenario with a warning to the sugar mills.<\/p>\n
Contrary to the rates announced by the prime minister, and several attempts by the government to maintain retail sales at Rs130 per kg, sugar prices in the markets continue to soar above Rs180 per kg in various markets across the country.<\/p>\n
Sugar consumption is forecast to increase slightly to 6.7 million tonnes as it has continuously grown due to population growth and demand from the food processing sector.<\/p>\n
During the last season, Pakistan produced more than 6.84m tonnes of sugar, which is expected to rise in 2024-25.<\/p>\n
On electricity prices, Miftah said, \u201cBangladesh, India, Sri Lanka Indonesia, Thailand Cambodia, South Africa, Kenya \u2014 these are just some of the countries that may have surpassed us and when investment doesn\u2019t come in Pakistan, it goes to these countries.\u201d<\/p>\n
He noted that Pakistan\u2019s electricity prices, however, were more expensive than these countries. \u201cSo, what is so special about your electricity that you are selling it at such an expensive rate? What is so special about your gas that you\u2019re selling it at such an expensive rate?\u201d<\/p>\n
\u201cThere\u2019s no reason apart from the fact that your policies are unsuccessful, full of U-turns and are based on greed,\u201d he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Former finance minister and economist Miftah Ismail on Thursday criticised the federal government for allowing electricity and sugar prices to get to an exorbitant level. Speaking at a press conference in Karachi, Miftah criticised the current government for allowing sugar mill owners to export for profits. \u201cSix months ago, the government permitted the export of […]<\/p>\n","protected":false},"author":1,"featured_media":7109,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-7108","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news"],"_links":{"self":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/7108","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7108"}],"version-history":[{"count":1,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/7108\/revisions"}],"predecessor-version":[{"id":7110,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/posts\/7108\/revisions\/7110"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=\/wp\/v2\/media\/7109"}],"wp:attachment":[{"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7108"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7108"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/weeklyyoung.pk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7108"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}