Islamabad, 13 August 2024 (TDI): Minister for Industry and Production, Rana Tanveer Hussain, chaired a meeting of the Sugar Advisory Board to discuss the current sugar situation in the country. The board reviewed the availability and pricing of sugar, aiming to stabilize the market and protect consumer interests.
The meeting recommended exporting 40,000 metric tons of sugar to Tajikistan, which will be done on a government-to-government basis. This move aims to utilize surplus sugar stocks and stabilize domestic prices. The export decision is expected to benefit the industry and consumers alike.
Rana Tanveer Hussain decided to delink the retail price of sugar from exports, ensuring that local prices remain stable despite international fluctuations. This decision will protect consumers from price hikes and ensure a steady supply of sugar in the domestic market.
Sugar mill owners were directed to clear pending payments to cane farmers promptly. District administrations will monitor and control retail prices to prevent exploitation. The move aims to ensure fair trade practices and support farmers.
Currently, Pakistan has a surplus sugar stock of 2.8 million metric tons. The FBR and cane commissioners will re-verify sugar stocks, and a report will be presented in the next meeting to decide on additional exports. The government aims to maintain a balance between domestic consumption and international trade, ensuring a stable sugar market.
