Finance ministry bars sugar mills from exporting sugar
ISLAMABAD (MNP) – The Finance Ministry on Monday while rejecting claims in abundance of sugar barred the sugar mills form exporting sugar.
Sources privy to the matter said that talks were held between sugar mill owners and the finance ministry, in which the ministry rejected the sugar mills’ claims of an abundance of sugar and barred them from exporting sugar.
The National Food Security Minister Tariq Bashir Cheema said that the Sugar Mills Association did not inform government about the overall stock situation, adding that there is a fear of 40% reduction in sugarcane production in Sindh.
On the other hand, there will be another round of negotiations with the Sugar Mills Association on Thursday.
Partial export demand
It is pertinent to mention that the Pakistan Sugar Mills Association (PSMA) – the representative body of sugar mill owners – sugar mill owners have been demanding the centre to allow the partial export of around 60pc of the sugar surplus from the last year 2021 and also warned to delay the crushing season.
However, the government, fearing a shortage, is resisting the demand.
