Continued hike in price


Staff Reporter


The Pakistan Economy Watch (PEW) on Thursday said continued hike in the price of sugar in acceptable which amounts to the exploitation of masses reeling under inflation. The sugar which was being sold at a price of Rs45 per Kg is now available at Rs80 which is condemnable, it said. The price of sugar is being increased without justification, while the sugarcane growers are not benefitting from it, said Dr. Murtaza Mughal, President PEW. The growers are facing exploitation by the sugar millers which is not being noticed, he added. Dr. Murtaza Mughal said that the price of urea is set to increase by Rs200 per bag which will hit the agriculture sector and increase the cost of production. He noted that the government has set a target of inflation at six percent but it jumped to double-digit in February and now it is at 11.63 percent while prices of many items have registered 30 to 40 percent increase.