Chairman PSMA Javed Kayani has also strongly lamented a news item "sugar price increase by 5-6 per kg" which appeared in Business Recorder and termed it contrary to facts. He said price of sugar during the crushing season always remains at the lowest ebb because of selling pressure for payments to growers in order to maintain the supply of sugarcane without any disruption.
During this period of time PSMA offered to TCP 378,000 tons at 46.25 and 100,000 tons at 45.72, the purpose of which was basically to offer to GoP to maintain its strategic reserves at the lowest prevailing price for market intervention and facilitating payments to growers. The price is a phenomenon of supply and demand and normally after the crushing season is over prices take a natural correction. If we were in a position to control the price why would it remain hovering around 44-45 for about three months. PSMA having realised its social corporate responsibility has already suggested to Government to buy an additional 400,000 tons of this commodity only to keep the price under control for the general consumers of the country.
Comments
Comments are closed for this article.