Billions made as sugar prices reach all-time high
Thursday, August 13, 2009
KARACHI: Ruthless manoeuvring by market players, actively assisted by important government personalities, has triggered a rapid escalation in sugar prices in Pakistan and if the trend continued, Pakistanis would be forced to buy sugar at a whopping price of at least Rs 60 per kilogramme in Ramazan against an already all-time high current sugar prices of Rs 52 per kg in Karachi markets, according to an investigation by this correspondent.
A calculated strategy hatched by key players of the sugar industry and trade, with secret but most effective help from important government personalities, undermined orders from the Economic Coordination Committee (ECC); manipulated decision-making at the Trading Corporation of Pakistan (TCP) over the last nine months and achieved a mischievous target of increasing the sugar prices in the country to an unimaginable level for profits in billions of rupees for some big names of sugar mills owners and traders, all tied with political families.
more
A calculated strategy hatched by key players of the sugar industry and trade, with secret but most effective help from important government personalities, undermined orders from the Economic Coordination Committee (ECC); manipulated decision-making at the Trading Corporation of Pakistan (TCP) over the last nine months and achieved a mischievous target of increasing the sugar prices in the country to an unimaginable level for profits in billions of rupees for some big names of sugar mills owners and traders, all tied with political families.
more
Labels: Governance, Government, Sugar Crisis
posted @ 2:15 PM,
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