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TCP urged to buy surplus
sugar
KARACHI- Pakistan Sugar Mills Association (PSMA) has urged the
TCP to purchase 0.2 to 0.3 million tons sugar out of the
expected surplus of 0.621 million tons.
In a meeting held on Friday with the TCP chairman, a PSMA
delegation led by Ismail Zakria suggested that the state
corporation should purchase this quantity at the ex-mill price
against cash payment to enable the sugar mills to overcome
their liquidity problem.
PSMA had been seeking relief from the government by allowing
the mills to export around 0.2 million tons, but so far this
demand has not been met. But now the association wants the TCP
to lift some stocks from the mills to enable them to continue
their crushing season.
The TCP press release stated that the TCP chairman informed
the delegation that the proposal would be examined in
consultation with the concerned quarters. Meanwhile, the PSMA
press release stated that a delegation of PSMA held a
follow-up meeting on Friday, March 22, with TCP chairman
Masood Alam Rizvi regarding the "proposal under consideration
for procurement of 200,000 tons of white refined sugar by the
corporation from the sugar industry."
It further stated that the meeting reviewed at length the
modalities to be followed for the transaction with objective
of sugar procurement by the TCP.
The sugar industry had been arguing that due to huge import of
619,754 tons of white refined and 600,000 tons of raw sugar
during 2000-01 season resulted in carrying over stocks which
the industry could not bear.
Courtesy Dawn March
27, 2002 |
Pakissan.com;
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