Sugarcane support price Rs225 per maund, crushing season to start from 15th

LAHORE: The talks between the Punjab government and the Pakistan Sugar Mills Association have remained successful, and the PSMA will start crushing season from Nov 15.

Sources said here Thursday the government would issue no-objection certificates (NOCs) to the mills, which would be able to get bank loans. The sugarcane support price has been fixed at 225 per maund. Sources said the FIA and the FBR cases against mills would be settled through consultation and the crackdown on mills owners and management would be stopped.

Sources said the Punjab cane commissioner would not interfere in mills affairs unnecessarily; however, payment to farmers would be ensured at all costs. PSMA Central Chairman Chaudhry Zaka Ashraf, along with the mills owners, is likely to announce the start of sugarcane crushing season from Nov 15 on Friday (today).

On the instructions of Prime Minister Imran Khan, an eight-member committee has been formed under Advisor on Finance Shaukat Tarin to fulfil demands of the sugar mills. Four federal secretaries and as many federal ministers will be members of the committee, which will review all the FIA and FBR cases against sugar mills.

Sugar mills association representatives will provide the press with details of the agreement with the government at a local hotel here on Friday, and a federal minister will also be attending the joint press conference.