Islamabad: “Current government intends to devise a long term Sugar Policy to ensure consistency and stability amongst the sugar producers/manufacturers and the general public” said Adviser to the PM Abdul Razak Dawood here in Islamabad.
A meeting of the Sugar Advisory Board took place under the Chairmanship of Mr. Abdul Razak Dawood, Adviser to Prime Minister on Commerce, Textile, Industries & Production and Investment to discuss various issues including availability and pricing of sugar. Representatives of sugar industry (PSMA), Ministry of Industries & Production, Ministry of Commerce, Ministry of National Food Security & Research, State Bank of Pakistan, Federal Board of Revenue (FBR), Cane Commissioners’ offices of Khyber Pakhtunkhwa, Sindh and Punjab and Industries Department Punjab attended the meeting.
The Adviser was apprised regarding the current stock of sugar by the representatives of Cane Commissioner’s Offices federal and provincial Representatives of Federal Board of Revenue stated that they have also initiated the proceedings for physically taking stock of the sugar available at respective mills. The Adviser desired that FBR may conclude this exercise in a week’s time so that the figures of two departments (Cane commissioner’s office and FBR) can be compared for better clarity and decision making.
The Adviser expressed satisfaction over the current figures of sugar availability and said that the upcoming season will hopefully not incur any stress on the consumers. He stressed upon the importance of providing relief to the general public by not increasing prices of sugar unreasonably as it is an everyday household commodity.
Representative of State Bank of Pakistan informed the participants that export quota of 500,000 MT have been approved by State Bank of Pakistan.
Mr. Dawood encouraged the prospect of exporting sugar and was hopeful that the balance quota for export of sugar to China around would also be utilized to improve the balance of trade with China. The Adviser asked the participants to turn up with their proposals to devise a Long-term Sugar Policy to ensure that this sector grows more competitive, stable and consistent. The meeting ended with a vote of thanks and the Adviser assured all participants that he will be willing to take input on the proposed policy making by involved stakeholders.