Chairman Pakistan Sugar Mills Association (PSMA), Javed Kayani has appreciated the open market tender for 50,000 tons of sugar by Trading Corporation of Pakistan (TCP). He said that in order to keep sugar prices within reasonable limits PSMA had forewarned the government in October 2009 to import 1.2 million tons of sugar to meet with anticipated shortages but unfortunately TCP was unable to import the desired quantity.
TCP has floated first tender in last two years for which PSMA has been advocating on every forum that in order to control the prices it is imperative to maintain strategic reserves and ensure off-loading of stocks from time to time but due to an imbalance in supply and demand prices could not be controlled. Javed Kayani said in fact the open market tender of TCP is a result of our recommendations to the government, which we have been impressing upon for the welfare of consumers of this country.
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