Pakistan Sugar Mills Association (PSMA) Punjab Zone has claimed that ample stocks of sugar are available in the country, sufficient to meet domestic national requirements for the next six months. This was stated by the Chairman of Pakistan Sugar Mills Association Punjab Zone Riaz Qadeer Butt here on Tuesday. He categorically refuted a press item that smuggling may cause severe shortage in Ramazan.
He said there are ample stocks available in the country which are sufficient to meet our requirement for next six months. He said the present inventory in Punjab is 1.05 million tons; in Sindh it is 0.45 million tons and in KP there is 0.1 million tons sugar. Besides, 0.25 million tons is with Trading Corporation of Pakistan. This makes total availability at 1.850 million tons. Riaz further clarified that monthly consumption is 0.35 million tons. Therefore, the stocks are sufficient until end of November.
He also refuted that sugar millers are trying to manipulate prices in the holy month of Ramazan. He said demand and supply regulate the price and there is no manipulation by the millers. He said there is still ample availability of sugar in the market and there is no question of prices going beyond the current level.
He said there is a wilful effort to malign the sugar industry whereas the circumstances and ground realities completely negate the propaganda. Referring to smuggling he said sugar trucks can not remain invisible as it can not be carried in pockets. He assured there is no cause of concern at present and there will be sufficient supply in Ramazan to offset any price hike if any.
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