Miftah Ismail criticizes the government for exorbitant electricity, sugar prices – business

Former Minister of Finance and Economist Miftah Ismail criticized the federal government on Thursday for allowing the prices of electricity and sugar to reach an exorbitant level.

Speaking at a press conference in Karachi, Miftah criticized the current government for allowing the owners of sweets to export profits.

Six months ago, the government authorized the export of 5 to 6 million tonnes of sugar, so that the owners of Sindh and Punjabs can obtain dollars and help, he said.

He said he wanted to remind the current government that when former Prime Minister Imran Khan had exported sugar, the leaders of the PML-N criticized this decision, appealing the theft and a decision influenced by powerful sweets.

Today, I ask Shehbaz Sharif Sahab, who influenced your decision to export sugar? He asked for rhetorically.

Because you had promised that the sugar was 80 to 90 rupees that you could not exceed RS140, he stressed, adding that the exports started when the sugar was at Rs115 now, it was at Rs175.

Pakistanis should know why sugar is expensive, why do you cut solar energy bills and why do you cost people's electricity? He asked.

After repeated failures of the federal and provincial governments to provide sugar at the stipulated rate of RS130 per kilogram, the Pakistan Competition Commission (CPC) also entered the scenario with a warning warning.

Unlike the rates announced by the Prime Minister and several government attempts to maintain retail sales at Rs130 per kg, sugar prices on the markets continue to hover over RS180 per kg on various markets across the country.

Sugar consumption should increase slightly to 6.7 million tonnes because it has increased permanently due to demographic growth and demand from the food processing sector.

During the last season, Pakistan produced more than 6.84 million tonnes of sugar, which is expected to increase in 2024-25.

On the prices of electricity, Miftah said, Bangladesh, India, Sri Lanka Indonesia, Thailand Cambodia, South Africa, Kenya, these are only some of the countries that may have exceeded us and when the investment does not come to Pakistan, it goes to these countries.

However, he noted that the prices of electricity pakistans were more expensive than these countries. So what is so special in your electricity that you sell it at such an expensive pace? What is so special in your gas as you sell it at such a expensive pace?

There is no reason apart from the fact that your policies are unsuccessful, full of half-players and are based on greed, he said.

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