Govt’s move to deregulate sugar industry hailed

LAHORE:Pakistan Sugar Mills Association (Punjab Zone) (PSMA-PZ) has hailed the Punjab government’s move to deregulate the sugar industry.

In a statement, a PSMA-PZ spokesman said that sugar is a private business just like rice, wheat or other commodities and everyone has their own private businesses. The sugar industry appreciates the government’s decision to remove all its regulations.

Moreover, there was a telephonic conversation between the senior officials of PSMA (Punjab Zone) and the Chairman of Kissan Welfare Council, Muhammad Ayub Chaudhry Advocate, in which the latter representing the farmers also appreciated this step of the government. He said that if the government takes such positive steps, the farmers will fully support the Punjab government.

The PSMA spokesman said that this provincial de-regulation would only be 50 percent, the remaining 50 percent will only be successful when the federal government also de-regulates the sugar industry to enable it to run a free and fair business.

This will enable the sugar industry to compete with the major sugar producing countries of the world and provide Pakistan with an income of US$2 to 4 billion on a regular basis. A lot of time is wasted in meeting the government regulations. Last time too, the country lost US$300 million when the international rates of sugarcane were US$725 per ton. Matters continued in various meetings with the government and when the international rate of sugar reached US$500 per ton, then the government allowed the export.