Promoting Sugarcane Crop On The Cost Of Cotton Criticised

Promoting sugarcane crop on the cost of cotton criticised

The Pakistan Economy Watch (PEW) on Saturday said the policy of promoting sugarcane crop on the cost of the cotton crop should be stopped as it can result in serious national security issues

ISLAMABAD (Pakistan Point News / Online - 19th October, 2019) The Pakistan Economy Watch (PEW) on Saturday said the policy of promoting sugarcane crop on the cost of the cotton crop should be stopped as it can result in serious national security issues.Sugar mafia is digging the grave of the economy for profits which should be noticed and corrective measures should be taken, it said.The influential sugar mafia has forced masses to buy the world's costliest sugar but it has not satisfied their appetite for profit which is damaging the troubled textile sector, said Dr.

Murtaza Mughal, President PEW.Sugar mills are in surplus in Pakistan and billions are spent every year on subsidies to export additional sugar but at the same time illegal expansion in the capacity of some sugar mills continues with officials turning a blind eye towards it, he said.On the other hand, the textile sector which is providing over ten million jobs and earning almost 13 billion Dollars of foreign exchange for the country has been allowed to deteriorate to profit the sugar sector which is a liability, he added.Dr. Murtaza Mughal said that the area under cultivation of cotton is reducing rapidly in favour of the sugarcane crop which will require 1.5 billion dollars of cotton imports soon that will hit forex reserves, production and exports as the cost of doing business will increase for millers.