LAHORE  -  The Pakistan Sugar Mills Association (PSMA) Punjab Zone has denied that the ex-mill prices of sugar have risen from Rs145 to Rs150 per kg, saying it was not based on facts. The PSMA spokesperson told the media here Sunday that ex-mill current prices in the country are in the range of Rs133 to Rs135 per kg, whereas our cost of production if calculated comes to Rs175 per kg as the industry has purchased sugarcane at the rate of Rs425 to Rs550 per maund. He said that last year minimum support price of sugarcane was around Rs300 per maund. On the other hand, input cost like petroleum products, chemicals, bank interest rates, sales tax, labour costs, etc have risen manifold, he claimed. The spokesperson added that 1.5 million tonnes of sugar is lying surplus in the country and immediate measures are to be taken to export it without any financial burden to the government, rather it would fetch foreign exchange earnings and it would be in the national interest of Pakistan. “If we export in the quickest way the country can earn more foreign exchange and if there is any delay in the export of surplus sugar, prices in the international market may come down and less foreign exchange will be earned by the country,” he argued.

The spokesperson appealed to Federal Minister for Industries Rana Tanveer Ahmed, Federal Minister of Commerce Jam Kamal Khan and all relevant offices of the government to immediately take notice of falling international prices and allow immediate export of sugar so that timely sugarcane payments to the sugarcane growers may be ensured and country may earn more foreign exchange.