Pakistan Sugar Mills Association (PSMA) while expecting a bumper crop of sugar in the next season has proposed to the government to allow export of surplus stock.
Federal Minister for Industries & Production Rana Tanveer Hussain chaired a meeting of the Sugar Advisory Board (SAB) in Islamabad. The meeting was attended by high-ranking federal government officials, representatives from provinces, and representatives from the Pakistan Sugar Mills Association (PSMA).
The agenda of the meeting was to review the overall stock position of the sugar in the crushing season 2023-24. It was shared that the total production of sugar for the current year is 6.752 metric tons.
The minister said that an increase in sugar prices directly impacts the common man. We should first meet the local demand for sugar then we can export surplus sugar.
The representatives of PSMA informed that they are expecting a bumper crop of sugar in the next season as high rates have been given to the farmers in the current season. They suggested that the government should allow the export of surplus stock.
It was agreed that the decision to allow the export of surplus stock would be taken in the next meeting after a careful review of available stock, local consumption patterns, and subsequent surplus balance.
The Ministry of Industries and Production was directed to submit detailed working in the next meeting to be called right after Eid-ul-Fitr.
