SAB recommends exporting 40,000MT sugar to Tajikistan

ISLAMABAD: Minister for Industries and Production Rana Tanveer Hussain convened a meeting of the Sugar Advisory Board (SAB). The session included the Secretary of Industries and Production, senior federal officials, provincial representatives, members of the Pakistan Sugar Mills Association, Provincial Cane Commissioners, Federal Board of Revenue (FBR) officials, and sugar growers.Pakistan’s Sugar Sector Hits Record 78% Profit Surge in FY23

The SAB recommended the export of 40,000 metric tons of sugar to Tajikistan. This export arrangement will be facilitated by the Trade Corporation of Pakistan, pending approval from the Economic Coordination Committee of the Cabinet.

The meeting assessed the current sugar stock in the country, which stands at 2.852 million metric tons. This quantity is deemed adequate to satisfy domestic demand. However, the Pakistan Sugar Mills Association highlighted that there is an excess of 1.5 million metric tons of sugar. They advocated for the export of this surplus to bolster the sugar industry’s revenue and help growers meet their financial obligations.

The Federal Minister instructed the Ministry of Industries and Production, Provincial Cane Commissioners, and the Federal Board of Revenue to reconcile the sugar stock and present their findings at the next SAB meeting, scheduled for the upcoming Tuesday.

During the discussions, Pakistan Sugar Mills Association representatives noted that there had been no increase in the ex-mills price of sugar, which they clarified does not directly affect the retail price. They urged the government to take measures to stabilize retail prices through district administration. In response, the Federal Minister directed provincial authorities to enforce strict actions against hoarders.