ISLAMABAD: Pakistan Sugar Mills Association (PSMA) has urged the Federal Minister for Industries and Production Hammad Azhar to arrange a meeting of the association's members with Prime Minister Imran Khan so that misperceptions and misunderstandings can be dealt with.
According to a written communiqué addressed to Hammad Azhar, the PSMA has requested him to assist the association in arranging an early meeting with the PM.
The letter stated: "We appreciate your initiative in reaching out to us and the opportunity to discuss ways and means to improve sugar sector in the country. As discussed in our meeting, prices of commodities such as sugar are primarily determined by market forces of demand and supply and PSMA didn't play any role in this regard".
The letter stressed the need for institutional reforms and recommended deregulation as a means to reduce price volatility. And it further argued that easing cyclical highs/lows and improving stability in the sugar industry could also help stabilize its price.
A mutually acceptable costing exercise should be held by an independent international accounting firm that could also be useful for better informed policy decisions to be taken for mutual benefits of consumers and the industry, the letter suggested.
To discuss this and other proposals, "We request that a meeting of the Sugar Advisory Board may be called at earliest."
The association has requested the minister to use his influence and arrange a meeting between the Prime Minister and the association members so that the association can give presentation
to the PM and remove misconceptions regarding the industry.
Copyright Business Recorder, 2020
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