ISLAMABAD - Federal Minister for Finance and Revenue Ishaq Dar on Monday directed on maintaining the strategic reserves of sugar and maintenance of prices of sugar for providing maximum relief to masses.
Federal Minister for Finance and Revenue chaired a meeting at Finance Division Monday to review the demand and supply situation of sugar in the country. The meeting reviewed the available stock position and future demand of sugar in the country and was apprised that sufficient stocks of sugar are available in the country.
It was informed that sugar mills have started crushing the sugarcane in Sindh and Punjab provinces. It was also informed that production of sugar in the province of Sindh will be less than last year due to floods. The chair expressed satisfaction on the availability and production of sugar in the country and stressed on maintaining the strategic reserves of sugar and maintenance of prices of sugar for providing maximum relief to masses. Federal Minister for National Food Security and Research Tariq Bashir Cheema, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, Secretary NFS&R, Special Secretary Finance and other senior officers from Finance and NFS&R attended the meeting. An official informed The Nation that the government has not taken any decision regarding sugar export despite the fact that sugar industry is continuously demanding export of the commodity. Sugar millers have demanded to allow the sugar export. However, the government has decided to go for a third-party audit of the available stock in the country.
Sugar mills association had held meeting with the government’s team in last week. The mills had presented a formula to resolve the issue. However, Commerce Minister Naveed Qamar said that the deadlock continued as the sugar stock position was the main issue. Therefore, he said, a third-party audit of the stocks would be conducted. It was decided in the meeting that the owners of sugar mills will submit the stock details. On December 2, sugar mill owners will submit the details. The decision about allowing the sugar export will be taken after the stocks position is verified by the third-party side.