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ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet has decided that the Pakistan Sugar Mills Association (PSMA) Punjab Zone would provide 20,000 MTs of sugar at retail price of Rs 95 per kg during the month of Ramazan through the Government of Punjab at district level after it was informed about the increase in the retail price of sugar despite a commitment by the PSMA.

A meeting of the Sugar Advisory Board (SAB) was convened on 11th April 2023. The Board took notice of increase in retail price of sugar and reminded the PSMA of their commitment/assurance regarding non-increase of price of sugar while quota of 250,000 MT was being allowed for export.

Wholesale market: Sugar price jumps to Rs6,000/50kg bag in a month

The Board decided to hold a meeting on sugar prices with PSMA and accordingly, a meeting was held by chairman SAB, minister for National Food Security and Research (MNFSR) at Lahore on I2th April 2023.

During the meeting, PSMA Punjab Zone agreed to reduce the retail price of sugar to Rs 95 per kg, and provide 20,000 MT of sugar for distribution at designated sale points to be established by the Punjab government.

The direction of the ECC of the Cabinet is sought in the light of aforementioned that; (i) PSMA Punjab Zone, to provide 20,000 MT of sugar at retail price of Rs 95 per kg during the month of Ramazan (till Eid-ul-Fitr) for sale to general public through the Punjab government at district level; (ii) arrangements will be made with other provincial PSMAs on similar pattern for provision of sugar in other provinces/ areas; (iii) Provincial governments will make befitting arrangements at the designated sale points for public convenience; and (iv) meeting will be held with the PSMA to review cost of production, sale price etc after Eid-ul-Fitr.

Copyright Business Recorder, 2023

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