KARACHI, Feb 7: Lasbela Chamber of Commerce and Industry (LCCI) president Maqsood Ismail has taken strong exception of the TCP plans to buy sugar stocks from mills at cost price.

In a statement issued here on Thursday, the LCCI chief said that sugar mill owners’ announcement on behalf of the TCP was absolutely wrong and was done to serve their own interest by increasing the local price.

He said that after this report sugar prices jumped by Rs2 per kg, which tantamount to taking money from poor masses pocket and supporting the mills.

Maqsood said if the TCP were to buy sugar at cost then who was going to determine the cost or was the government-owned corporation going to lose money by buying sugar at higher price and then selling it cheaply.