Lahore: The government is considering abolishing the indicative sugarcane price as part of a broader plan to deregulate the sugar sector, according to sources on Tuesday, reported International The News.
As per media report, source stated that there might be no indicative sugarcane price for the upcoming crushing season, which starts in November. The move comes as part of a policy guideline prepared by the top officials in Punjab. Meanwhile, the federal government is also considering relaxing the restrictions on sugar imports and exports while the Punjab government is planning to do away with the fixed rates for buying sugarcane from farmers, reports said.
Commenting on the proposed deregulation, PSMA Zonal Chairman Zaka Ashraf said the move will help not only the industry but also the growers. He said such a move would have a positive effect on the economy if it was done at the federal level.
An old hand at sugar milling, on being asked about the sugarcane indicative price for the 2024-25 season, confirmed there was likely not going to be any such pricing for the next crushing season. But he remained indecisive when it came to whether the IMF had made them free the sugar sector in Pakistan.
