ISLAMABAD: The federal government has granted conditional approval for the export of 150,000 metric tons of sugar, responding to the demands of sugar mill owners. This decision was reached during a meeting of the Sugar Advisory Board, which was chaired by the Federal Minister of Industry and Production, Rana Tanveer Hussain.
During the meeting, an agreement was formalized between the Punjab government and the Pakistan Sugar Mills Association. Federal Minister Rana Tanveer emphasized that the approval for sugar export is contingent upon maintaining price stability and ensuring adequate stock availability within the country. He stated unequivocally, “Availability of sugar stocks and price stability will be ensured. Ex-mill price of sugar will not be increased under any circumstances.”
The minister underscored the importance of this agreement, highlighting that it aims to balance the interests of sugar mill owners, consumers, and farmers. He assured that the export decision is a strategic one, intended to optimize economic benefits without disrupting the local market. By maintaining strict control over sugar stock levels and prices, the government seeks to prevent any adverse impact on domestic sugar availability and affordability.
Additionally, Minister Rana Tanveer committed to prioritizing the settlement of all pending payments to farmers. This move is designed to support the agricultural sector and ensure that farmers are not disadvantaged by the export activities. The minister highlighted that the well-being of farmers is crucial for the overall stability of the sugar industry.
To ensure ongoing oversight, the Sugar Advisory Board will conduct a review of sugar prices and the market situation every 15 days. This regular monitoring will help to swiftly address any emerging issues and make necessary adjustments to policies, thereby safeguarding both the domestic market and the interests of all stakeholders involved.
Through this comprehensive approach, the federal government aims to strike a balance between enabling profitable export opportunities for sugar mill owners and ensuring that the local market remains stable and well-supplied.
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