Artificial food crisis transferring trillions from poor to rich - AsiaNet-Pakistan

Artificial food crisis transferring trillions from poor to rich

November 9, 2020 | | Share:

Islamabad, November 09, 2020 (PPI -OT): The Pakistan Economy Watch (PEW) on Saturday said trillions have been transferred from the pockets of poor to the coffers of rich with the help of artificial food crisis.

The crisis is being prolonged intentionally so that the mafia can extract maximum from the struggling masses as the authorities seems fully satisfied by relying on issuing hollow statements, he said.

Inaction on the part of the federal and provincial governments have triggered fears and doubts among the large section of masses, while it is pleasing the profiteers, said Dr. Murtaza Mughal, President PEW.

He said that the decision to import wheat and sugar is not being implemented the way it should have been which is helping hoarders to fleece masses since last year.

Dr Murtaza Mughal said that amid bleak food security outlook the federation and provinces have locked horns over the wheat support price which can result in another crisis.

The federal government is ready to buy imported wheat for Rs2500 per 40kg but not ready to increase wheat support price above Rs1600 which is amazing and amounts to exploitation.

On the other hand hoarders, profiteers and flour mills mafia have been allowed to extract as much money from poor as possible.

He said that flour was available for Rs33 per kg in 2018 which is now being sold at Rs70 per kg; the price of sugar has jumped from Rs58 to Rs110 while prices of other items have also been increased burdening masses by trillions of rupees.

Moreover, he said, the electricity price was Rs10 per unit in 2018 which is not Rs20 which transferred one trillion rupees from masses to the government.

For more information, contact:
President
Pakistan Economy Watch (PEW)
402, 4th Floor, Gulistan Khan House, Fazal-e-Haq Road,
82-East, Blue Area, Islamabad
Tel: +92-51-2510375
Fax: +92-51-2802449
Cell: +92-321-5157671
Email: president@pakistaneconomywatch.com
Web: www.pakistaneconomywatch.com

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Category: English, General Business News