Govt conditionally allows to export 150,000 metric ton of sugar

BusinessGovt conditionally allows to export 150,000 metric ton of sugar

ISLAMABAD, Pakistan: A meeting of the Sugar Advisory Board (SAB) chaired by the Federal Minister for Industries and Production Rana Tanveer Hussain in Islamabad on Monday.

The meeting was also attended by the Federal Secretary for Industries and Production and other stakeholders including Pakistan Sugar Mills Associations (PSMA), Kissan Itihad and Federal & Provincial representatives.

   

The agenda of the meeting was to discuss and review the sugar stock availability, current market prices, sugarcane rates, present global market sugar prices, and industry production cost.

The Sugar Advisory Board has conditionally allowed to export 150,000 metric tons of sugar.

It was agreed to maintain sufficient local stocks of sugar to ensure the smooth supply of the commodity in local markets at sustainable price.

In this regard, an agreement was reached between the government and Pakistan Sugar Mills Association to ensure smooth supply and stable price of Sugar in the local market.

The federal minister said that Ex-mills sugar price will not be increased under any circumstances while all the pending payments to farmers will be cleared on priority basis by the PSMA.

Rana Tavneer said that the Sugar Advisory Board will again review the sugar prices and market stability in a fortnight.

The minister said that in future, the export of sugar will depend on price stability and stock availability in the Country.

Mati
Mati
Mati-Ullah is the Online Editor For DND. He is the real man to handle the team around the Country and get news from them and provide to you instantly.

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