ISLAMABAD: After analyzing the available stock, crop and prices in domestic market, Sugar Advisory Board (SAB) on Tuesday approved export of 40000 matric ton sugar to Tajikistan.
As per details, during meeting of the board, the SAB recommended export of 40,000 metric tons of sugar to Tajikistan. The arrangements to export sugar to Tajikistan shall be made by Trade Corporation of Pakistan after approval from the Economic Coordination Committee of the Cabinet.Â
Minister for Industries and Production Rana Tanveer Hussain on Tuesday chaired a meeting of SAB. The meeting was attended by the Secretary, Industries and Production, other high ranking federal Officers, representatives from provinces, representatives from Pakistan Sugar Mills Association, Provincial Cane Commissioners, FBR officals and growers.Â
The meeting reviewed stock position of the sugar in the country which is 2.852 Million MT currently. The available stock is sufficient to meet local demand of the sugar. Pakistan Sugar Mills Association was of the view that there is 1.5 Million MT surplus stock of sugar available in the country which should be exported to support Sugar Industry to earn revenue to meet financial obligations of growers.Â
Federal Minister directed Ministry of Industries and Production, Provincial Cane Commissioners and Federal Board of Revenue to carry out reconciliation of stock and present report in next meeting of SAB which is likely to be held on coming Tuesday.
During the meeting, representatives of the Pakistan Sugar Mills Association stated that there had been no increase in the ex-mills price of sugar and it had nothing to do with the retail price of the commodity. They urged the government to take steps to maintain the retail price through district administration. Federal Minister directed provinces to take strict action against the hoarders.
