ISLAMABAD: Federal Ministries of Industries and Production, Hammad Azhar on Wednesday said that the Punjab government would sell sugar in the market at prices much below the current retail and ex-mill rates.
In a series of tweets on Wednesday, the minister said that the Trading Corporation of Pakistan (TCP) imported sugar at the ‘most competitive’ rates from the international markets without any government subsidy involved.
“TCP has imported sugar at most competitive rates from intl markets without any government subsidy involved. It will also be sold in the market by Punjab government at prices much below the current retail and ex-mill rates. Novel and convoluted methods of computing “losses” is the latest twist,” he tweeted.
The minister also categorically declined a press report that falsely claimed that the government had procured 2 million tonnes of sugar from the mills or that government was importing another million tonnes.
According to the report by a local private media channel, the commission report estimated sugar price at Rs 63.13 after the deduction of profit and taxes levelled on sugar mills. But the government bought 2.1 million tonnes of sugar at Rs 83.50 from the sugar mills from December 2019 to July 2020.
“The total sugar sold in Pakistan is around 5 to 6 million tonnes in a year! The government is importing 150,000 tonnes only,” the minister clarified.
The report published also falsely claims that govt had procured 2 million tonnes of sugar from the mills. Or that govt is importing another million tonnes. The total sugar sold in Pak is around 5 to 6 million tonnes in a year! The govt is importing 150k tonnes only. https://t.co/NjqnSKlYfL
— Hammad Azhar (@Hammad_Azhar) October 28, 2020
It may be noted here that the government is importing 151,700 metric tonnes of sugar to meet Punjab’s requirement.
So just when the sugar crushing season begins government to help the sugar mafia by importing sugar to lower prices and when the season is gone the prices are going to be increased again.