Islamabad: The Sugar Advisory Board (SAB) on Tuesday gave the green light for the export of 40,000 tonnes of sugar to Tajikistan. The Trade Corporation of Pakistan (TCP) will handle the shipment once it receives approval from the Economic Coordination Committee (ECC) of the Cabinet, reports Dawn.
During a meeting presided over by Minister for Industries and Production Rana Tanveer Hussain, it was stated that the country currently has 2.852 million tonnes of sugar in stock, which is much more than domestic requirements.
Representatives from the Pakistan Sugar Mills Association (PSMA) highlighted that there are 1.5 million tonnes of surplus sugar available. They urged the government to allow exports of this surplus to support the industry and generate revenue, which is crucial for fulfilling financial obligations to growers.
The minister instructed provincial cane commissioners and the Federal Board of Revenue to conduct a stock reconciliation and present their findings at the next board meeting.
PSMA representatives clarified that there has been no increase in the ex-mills price of sugar and that this is unrelated to the retail price of the commodity. They called on the government to ensure that the district administration takes steps to maintain stable retail prices.
