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

ISLAMABAD (92 News) - A meeting of the Sugar Advisory Board (SAB) chaired by the Federal Minister for Industries and Production Rana Tanveer Hussain was held on Monday.

The meeting was also attended by 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 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 PSMA.

He said that the Sugar Advisory Board will again review the sugar prices and market stability in a fortnight. Rana Tanveer said that in future, the export of sugar will depend on price stability and stock availability in the country.