PSMA Punjab Zone appeals to govt to save industry by buying surplus sugar stock through TCP

LAHORE (92 News) - The Pakistan Sugar Mills Association (PSMA) Punjab Zone has appealed to the government to buy surplus sugar stock through the Trading Corporation of Pakistan (TCP).

The PSMA Punjab Zone spokesman lauded the steps taken by the government to stop smuggling and hoarding of sugar. "The surplus sugar stock should be kept as strategic reserve. According to latest statistics available with the FBR, sugar mills have the stock of 1.13 million metric tonnes. The start of the new crushing season has put the industry in a critical situation," he added.

The PSMA Punjab Zone spokesman said that the steps taken to limit the inter-provincial transportation are disturbing the supply chain. "The government can allow the export of the second tranche of 500,000 metric tonnes of surplus sugar," he added.