Pakistan Sugar Mills Association (PSMA), Punjab Zone, has urged Punjab Government to allow Rs 9.30 per kg export rebate, in addition to rebate announced by the Federal government, as has been announced by Sindh Government for sugar mills of Sindh Province otherwise Punjab mills will suffer huge loss. Explaining the situation, a spokesman of the Association said here Tuesday that mills have a carryover stock from previous crushing season and in addition to it from the current crushing season sugar production to the tune of 8 million tons is expected.
In view of it, federal government has recently allowed export of 1.5 million tons of sugar with rebate of Rs 10.70 per kg. The spokesman said even with this amount of export rebate Pakistani mills will be unable to recover cost of production of sugar at the prevailing sugar prices in the international market. Keeping in view the situation, Sindh government has announced additional Rs 9.30 per kg rebate for sugar mills of Sindh province.
The spokesman of PSMA Punjab Zone said that Punjab Government should immediately announce additional Rs 9.30 per kg export rebate for sugar mills of Punjab Province otherwise the mills of Punjab will be constrained to stop crushing.
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