Centre asks provinces to act against sugar hoarders

ISLAMABAD - While taking serious notice of high sugar price, the Federal Government on Wednesday asked the provinces to immediately take action against the profiteers and hoarders of sugar, as they are behind the skyrocketing prices of the commodity. According to the Spokesman of Ministry of Industries and Production, provinces have been empowered after the 18th Amendment, therefore they should move against the profiteers and hoarders of sugar according to the law. The provinces must ensure that sufficient sugar is available in the open markets and check the skyrocketing prices of sugar, the Spokesman added. It is worth mentioning here that sugar prices have continued upward journey for the last few months and have gone beyond Rs 80 per kg and it is feared that they could go to Rs 90 per kg in the coming days. The commodity prices have been increased by Rs 25 per kg in just two months as it was Rs 57 per kg in June 2010 and now it is being sold at Rs 82 per kg. Apart from Afghanistan, sugar prices in Pakistan are high in the region as at present the sugar prices in neighbouring countries in Pak rupees per kg are, Rs55 per kg in India, Rs 61 per kg in Bangladesh, Rs 65 per kg in Sri Lanka and Rs 120 per kg in Afghanistan. Sources told TheNation that provinces were not serious to control the sugar prices, as despite several media reports, they did not move against the profiteers and hoarders of commodity. Sources further told that it was the responsibility of Provincial Governments to control the sugar prices instead of Centre, as the Federal Government is only responsible for its availability rather than its prices. The provinces even failed to lift 100,000 tones of sugar arranged by Trading Corporation of Pakistan (TCP) for sasta bazaars (subsidised markets) in Ramazan, as they only lifted 27,009 tons of sugar, which could shows their seriousness to control the prices. The sugar is available at Rs 61 per kg at sasta bazaars. The Spokesman further said that according to the data provided by the Federal Bureau of Statistics the stock position of sugar on 31st August was as follows; the Trading Corporation of Pakistan has 151,805 tons stock whereas the sugar mills have 536,326 tons of stock. While the imported 197,311 tons sugar of TCP will arrive during September and October whereas 320,000 tons of imported sugar of TCP will arrive till December. Thus, there will be a total stock of 1,205,000 tons sugar, which would be sufficient till December with the monthly consumption of 350,000 tons. According to the sugar stock data provided by the respective cane commissioners, out of the total 536,326 tons of sugar stocks, Punjab has 302,618 tons, Sindh has 206,513 tons, whereas Khyber Pakhtunkhwa has 27,195 tons of sugar stocks.

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