UBG in FPCCI hails govt decision to ban export of sugar: UBG chief Shahzad Ali Malik


LAHORE:  United Business Group(UBG) in the federation of Pakistan chamber of commerce and Industry Tuesday hailed the prudent economic decision of clamping complete ban on the export of sugar.
Talking to a delegation of traders led by Monin Ali Malik,member executive committee Lahore chamber,UBG chairman Shahzad Ali Malik said it was good decision that dynamic prime minister Shehbaz Sharif taking serious notice of the impending threat of acute shortage of sugar in the country directed his team to impose ban on its exports unless until domestic needs are fulfilled besides stressing the urgent need of prices stabilisation. He said government should also launch vigorous crackdown against hoarders and profiteering across the country fleecing the poor segments of the society by stocking the commodities.
He said government should ban imports of all luxurious items forthwith to narrow down yawning trade deficit of US $ 40 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. He further suggested that wheat movements can also be monitored in all bordering areas through satellite network which he added will help smash smuggling attempts.
Shahzad Ali Malik said if required then wheat should be exported through proper channels with documentation and not by unlawful means.He 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 worldwide private sector is always considered backbone of the economy.