ISLAMABAD: To answer queries regarding stakeholder concerns in Pakistan’s sugar sector, the Competition Commission of Pakistan (CCP) has called for an open hearing scheduled to be held on 25th January.
In an advertisement published in a local newspaper, the CCP said taking notice of numerous concerns raised by stakeholders in the sugar sector relating to the ongoing sugarcane procurement process, an opening hearing is being called to address all of them.
CCP said it has initiated various policy level, advocacy, enforcement measures invariably aimed at making the sector more competitive, read the advertisement.
Earlier this week, it was reported Trade Commission of Pakistan (TCP), following orders of the federal government, issued a tender for purchase of 0.3 million metric tons of sugar, which would be opened on January 25th.
According to rules and regulations notified by TCP, sugar mills will receive payments in three segments. 40 percent of the first tranche of payment will be received on submission of required documents, which includes commercial invoice and surveyor certificate.
Second tranche of 40 percent payment will be received on provision of a certificate from Provincial Cane Commissioner of respective province to the point the mills have paid all dues of farmers till end of crop year 2017-18.
The outstanding 20 percent will get disbursed after complete lifting of entire sugar quantity from mills by TCP, condition to presenting of sales tax invoice, final lifting report, clearance certificate issued by TCP and original delivery order.
