On the directives of the Prime Minister, the Trading Corporation of Pakistan (TCP) released 298,637 metric tons of sugar to the Utility Stores Corporation (USC) for the period January 2009 to August 2009. According to a press release issued here on Sunday, the USC is selling this sugar at Rs 38/kg from its more than 5,000 outlets throughout the country.
TCP, on the directives of the Economic Co-ordination Committee of the Cabinet, has so far imported 75,000 metric tons of sugar. The import of 50,000 metric tons sugar is in the pipeline and for the import of another 75,000 metric tons sugar the international tender is in process.
TCP holds a stock of 206,000 metric tons of sugar that includes 130,000 metric tons of locally manufactured sugar. This month the TCP has, so far, released 29,000 metric tons of sugar to the USC against their quota of 30,000 metric tons for the whole month.
TCP, in the press release, said some complaints were reported by the USC with regard to the lifting of TCP owned sugar from few sugar mills in the Punjab, including Tandlianwala Sugar Mills, Faisalabad.
The local administration of Faisalabad was requested, and on their intervention 18,000 metric tons of sugar was lifted during the last week. Henceforth there have been no complaints of any resistance on part of sugar mills to release TCP stock.
During the month of Ramazan, the USC will be selling 70,000 metric tons of sugar at Rs 38/kg from its outlets for which TCP will maintain regular supply to the USC as, when and where required.
It is pertinent to point out that TCP is tasked by the federal government to maintain strategic reserves of sugar to meet any eventuality particularly shortages.
As reported by Pakistan Sugar Mills Association, about 1.4 million metric ton is available in their stock. Moreover around 300,000 metric tons sugar is in the possession of stockists/dealers. TCP stock is around 10 percent of the total stocks in Pakistan. Despite that TCP is regularly releasing its stocks to the USC on the directives of the Prime Minister and making all out efforts to maintain regular supply.-PR
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