Pakistan Sugar Mills Association (PSMA) and Citizens Rights Association (CRA) have appreciated the government for timely importing sugar so as to fill in the shortfall gap and to avoid any further hike in the sugar prices. CRA President Chaudhry Nasir Ahmed and Chairman PSMA Chaudhry Zaka Ashraf, expressed these views while addressing a meeting, here on Monday.
Addressing the meeting, Zaka stated that monthly consumption of sugar in the country was not more that 325,000 tons and the sugar mills were supplying the stuff as per requirement to the market. He further said that this year sugar prices are higher as compared to last year due to high prices of sugarcane during last crushing season.
He appreciated the government for taking timely step and importing sugar through TCP from the international market to control prices locally. He hoped that distribution of some 800,000 tons of sugar through Utility Stores Corporation (USC) outlets has curtailed sugar prices in the country. President CRA pointed out that according to a survey, a large number of labourers and profit hunters while acting as agents of hoarders were denying access of cheap sugar to genuine customers at the USC.
Both urged the governor State Bank of Pakistan to immediately withdraw the BPD Circular No 4 whereby SBP has asked the banks to call back their loans given to the sugar industry for payment to sugarcane growers. They said if this circular is not withdrawn the stocks of the sugar mills would become the property of the hoarders as the sugar mills have given priority to adjust the loans by 31st July 2006 and this panic selling could be detrimental to the interest of the consumers.
Comments
Comments are closed.