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Sugar Mills to form 'WTO committee' to stall influx of low-priced sugar
LAHORE (November 28 2002) : Chairman, Pakistan Sugar Mills Association (PSMA), Punjab Zone, Javed Kayani has said that formation of WTO committee at the PSMA platform is under way so the millers could meet the emerging challenges.
In a press release issued here on Wednesday, he said, if no concrete steps were taken, the sugar industry would perhaps be wallowing in the mire, once WTO regulations are in effect.
He further said neighbouring India has approached the Disputes Settlement Body of WTO to be a third party to a Brazilian complaint against exports subsidies by European Union to its sugar industry. In the event, Disputes Settlement Body rules in favour of Brazil, India will be entitled to similar benefits.
He felt that Pakistan can also be a party to Brazilian complaint and could benefit from it for the survival of its major industrial sector. "If protection to sugar industry in terms of WTO regulations is not sought at the governmental level, the country would have an influx of imported sugar at a very low price, which would not only eliminate the sugar industry but also deprive the growers from the benefits of the cash crop," he added.
Kayani was of the opinion that a system of counter measures should be adopted to check penetration of cheap commodity from abroad and hoped that newly elected government will not shrug aside this important issue.
Courtesy Business Recorder
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Pakissan.com; Advisory Point
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