Export of 40000 MT Sugar to Tajikistan: Sugar Advisory Board
Sugar Advisory Board (SAB) Meeting: Key Outcomes and Decisions
Ministerial Oversight of the Sugar Industry
On Tuesday, Minister for Industries and Production Rana Tanveer Hussain presided over a critical meeting of the Sugar Advisory Board (SAB).
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This session, held in Islamabad, brought together top federal officials, including the Secretary of Industries and Production, representatives from provincial governments, the Pakistan Sugar Mills Association (PSMA), Provincial Cane Commissioners, officials from the Federal Board of Revenue (FBR), and key stakeholders from the agricultural sector.
Sugar Export to Tajikistan Approved
One of the primary resolutions of the meeting was the recommendation to export 40,000 metric tons of sugar to Tajikistan.
The Trading Corporation of Pakistan Limited (TCP) will manage this export initiative, pending approval from the Economic Coordination Committee (ECC) of the Cabinet.
This move is expected to bolster Pakistan’s trade ties with Tajikistan and provide the local sugar industry with a much-needed revenue stream.
Current Sugar Stock Levels: A Sufficient Supply
During the meeting, a detailed review of the country’s sugar stock was conducted. The current stockpile stands at 2.852 million metric tons, which is deemed sufficient to meet the domestic demand.
The PSMA highlighted that there is an excess of 1.5 million metric tons of sugar, which they believe should be exported to generate revenue and support the industry’s financial obligations to growers.
Directive for Stock Reconciliation
The Minister directed the Ministry of Industries, Provincial Cane Commissioners, and the FBR to carry out a thorough reconciliation of the sugar stock. A report on the reconciled figures is expected to be presented at the next SAB meeting, scheduled for the following Tuesday. This step is crucial for ensuring transparency and accuracy in the management of sugar reserves.
Price Control and Anti-Hoarding Measures
A significant portion of the meeting focused on the pricing dynamics of sugar.
Representatives from the PSMA clarified that there had been no increase in the ex-mill price of sugar and that this had no correlation with the retail price hikes observed in the market.
They urged the government to implement measures to stabilize retail prices through district administration oversight.
In response, the Minister directed provincial authorities to take stringent action against hoarders to prevent artificial price inflation.
Conclusion: Export of 40000 MT Sugar to Tajikistan: Sugar Advisory Board
The SAB meeting underscored the government’s commitment to maintaining a stable sugar market while supporting the industry’s financial health. The decision to export surplus sugar, coupled with strict anti-hoarding measures, aims to balance supply and demand, ensuring that consumers are not burdened by unnecessary price hikes.
FAQs on Sugar Industry Developments
- Why is Pakistan exporting sugar to Tajikistan?
- Pakistan is exporting sugar to Tajikistan as part of a trade initiative to generate revenue and manage the surplus stock of sugar in the country. The export will be facilitated by the Trading Corporation of Pakistan Limited (TCP).
- What is the current sugar stock in Pakistan?
- The current sugar stock in Pakistan is 2.852 million metric tons, which is sufficient to meet domestic demand.
- Has there been an increase in the price of sugar?
- According to the Pakistan Sugar Mills Association (PSMA), there has been no increase in the ex-mill price of sugar, and any retail price fluctuations are not linked to the mill prices.
For more updates on Pakistan’s sugar industry and government policies, visit Pakistan Sugar Mills Association and Economic Coordination Committee.
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