PSMA-Punjab urges govt to allow immediate export of sugar

LAHORE: A spokesman of Pakistan Sugar Mills Association (Punjab Zone) has denied that the ex-mill prices of sugar have risen from Rs.145/- to Rs.150/- per kg, which is not based on facts.

He said ex-mill current prices in the country are in the range of Rs.133-135 per kg whereas our cost of production if calculated comes to Rs.175/kg as the industry has purchased sugarcane at the rate of Rs.425-550 per maund. He said, last year minimum support price of sugarcane was around Rs.300/maund.

On the other hand, input cost like petroleum products, chemicals, bank interest rates, Sales Tax, labour costs, etc. have raised manifold. If prices of all other products have risen to such extent how can one expect only the sugar may be sold below its cost of production.

The Spokesman further said the 1.5 million tons of sugar is laying surplus in the country and immediate measures are to be taken to export it without any financial burden to the government, rather it will fetch foreign exchange earnings and it will be in the national interest of Pakistan.

If we export in the quickest way the country can earn more foreign exchange and if there is any delay in the export of surplus sugar, prices in the international market may come down and less foreign exchange will be earned by the country.

The Spokesman of Pakistan Sugar Mills Association (Punjab Zone) appealed to Rana Tanveer Ahmed, Federal Minister for Industries, Jam Kamal Khan, Federal Minister of Commerce and all high offices of Government to immediately take notice of falling international prices and allow immediate export of sugar so that timely sugarcane payments to the sugarcane growers may be ensured and country may earn more.

Copyright Business Recorder, 2024