The Federation of Pakistan Chambers of Commerce and Industry’s (FPCCI) former president Senator Haji Ghulam Ali and PBIF’s president Mian Zahid Hussain have demanded of the government to immediately allow export of surplus sugar, or else the perishable item lying in godowns will be damaged. “Half of around 1.5 million tonnes of sugar available with millers in surplus should be allowed for export on urgent basis,” they added in a statement.
They said that since sugar sector cannot export the commodity on its own due to price difference, a minimum rebate of Rs 15 per kg should be offered to exporters of sugar, besides government should also ensure payment by provinces. Alternatively, government could buy the surplus stock from the millers and export the same on priority, they suggested.
They said that sugar mills should be bailed out so that banks and planters could get their payments after beginning of crushing season. They also demanded of the government to ensure timely payment of export subsidy as it was essential for the survival of the industry.
News source: Business Recorder