‘Ample stock of sugar available in country’

LAHORE:The Pakistan Sugar Mills Association (PSMA) on Tuesday stated that there is an adequate supply of sweetener available in the country.

A PSMA Punjab Zone spokesman has said that artificial hike in sugar price sponsored by Satta Mafia, profiteers and hoarders was reversed after fixing of a benchmark of ex-mill and retail sugar prices by the government. In a statement, the spokesman said that a PSMA general body meeting held here Tuesday categorically ruled out any shortage of sugar in the country, saying stocks are ample to satiate consumers’ needs.

He said that retailers, Satta Mafia and hoarders are spreading baseless rumours causing hike in sugar rates. The spokesman added that sugar prices had come down to the benchmark set by the government. These prices were agreed with the government by the sugar industry in the best interest of consumers for a month till April 19 while at the same time, the sugar industry has made available discounted sugar at Rs130 per kg for the needy at 274 established stalls during Ramazan. Reports of price hike due to exports of the commodity are completely fabricated and baseless. The sugar industry urged the government to adopt two-tier mechanism for determining separate sugar prices as 80% sugar is consumed by the industrial/commercial sector and 20% is consumed by the domestic consumers.