The Chairman Pakistan Sugar Mills Association (PSMA) Punjab zone, Javed Kayani has termed the ECC decision of procuring 0.2 million tons of sugar, as a right step in the right direction and has noted that the millers would honour their commitment of making 100 percent payments to the growers by May 15.
Talking to Business Recorder Javed Kayani said, "I feel that the ECC has acted at the right time to protect all the stakeholders of sugar sector and its decision of buying 0.2 million tons sugar would go a long way in strengthening the industry."
The ECC on Monday has decided that the government would buy 0.2 million tons sugar from the millers to help them ensure payments to the growers and banks of their seasonal loans.
To ensure prompt payments to the growers, the ECC has set a deadline of May 15. All those mills, which would sell commodity to the TCP, would be bound to clear their dues to the growers before this deadline.
Javed added that millers have always favoured the growers and want them to be prosperous and growing by getting good return on their produce.
He said that harmony of views among all the parties concerned with the sugar sector could ensure better return to all of them.
He hoped that the government would also implement other long-term proposals recently submitted by the industry, to solve the problems of sugar stakeholders on permanent basis.
The PSMA has been calling upon the government to buy at least 0.2 million tons sugar to stabilise the prices in the open market. It referred ex-factory price at Rs 15.50 per kg, which was a continuous cause of loss to the industrialists.
Taking cognisance of the situation the government had constituted a 12-member committee on sugar to workout short as well as long-term policy. The committee held series of meetings to review the situation and finally submitted its comprehensive report to the ministry of Industries and Production.
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