Saturday July 02, 2022

Millers refuse to sell sugar at Rs70/kg

By Our Correspondent
May 16, 2022

LAHORE: The Pakistan Sugar Mills Association (PSMA) has refused to sell the sweetener at Rs70 per kg. The sugar mill owners body and the Punjab government could not reach an agreement on the price at Rs 70 per kg. According to a spokesman for the Pakistan Sugar Mills Association, the commodity could be sold at Rs70 per kg under any circumstances. He added that such a low price cap would destroy the industry. “The government should take measures for the disposal of two million tons of surplus sugar that has been produced this year in excess of the country's requirements. The government can earn $1 billion in foreign exchange by facilitating the export of 1.5 million tons of sugar,” he added.

Earlier, Punjab Chief Minister Hamza Shahbaz had asked sugar mills representatives to reduce the sugar price to Rs70 per kg to provide relief to the common people. He had announced that mills of the Sharif family would provide sugar in the open market at Rs70 per kg.