Decision To Ban Sugar Export Hailed

The United Business Group (UBG) in the Federation of Pakistan Chamber of Commerce and Industry Tuesday hailed the prudent decision of the government to enforce complete ban on the export of sugar

ISLAMABAD, (UrduPoint / Pakistan Point News - 10th May, 2022 ) :The United Business Group (UBG) in the Federation of Pakistan Chamber of Commerce and Industry Tuesday hailed the prudent decision of the government to enforce complete ban on the export of sugar.

Talking to a delegation of traders led by member executive committee Lahore chamber Monin Ali Malik, UBG chairman Shahzad Ali Malik said it was good decision of Prime Minister Shehbaz Sharif, who took serious notice of the impending threat of acute shortage of sugar in the country and directed his team to impose ban on its exports until domestic needs are fulfilled, besides stressing the urgent need to stabilize the prices.

He also�urged the government to launch vigorous crackdown against hoarders and profiteers across the country fleecing the poor segments of the society by stocking the commodities.

Shahzad requested the government to ban imports of all luxurious items forthwith to narrow down trade deficit and if smuggled be auctioned immediately.

He further suggested the Prime Minister for immediate foolproof measures to stop the well-planned wheat smuggling into the neighbouring countries with the connivance of local authorities.

Furthermore, the UBG chairman proposed that wheat movements can also be monitored�in all bordering areas via�satellite network, adding it will help crush smuggling attempts.

Shahzad Ali Malik said if required then wheat should be exported through proper channels with documentation and not by unlawful means.

Malik said UBG will keep on bringing into the notice of the Prime minister all genuine problems braving the business community with their legitimate solutions, as globally the private sector is always considered�backbone of the economy.