Chairman Pakistan Sugar Mills Association (PSMA), Chaudhry M Zaka Ashraf has said that sufficient stocks of sugar are available in the country and sugar supply to the market is in accordance with its demand and consumption.
Talking to a group of newsmen, here on Thursday, Zaka said despite the fact that the Utility Stores Corporation has decided to provide sugar at Rs 34 per kg to retailers, the importing cost of sugar is still in the vicinity of Rs 38 per kg, and the government was spending huge amount on ensuring subsidised sugar supply to general consumers. Therefore, supply to the market was more than monthly consumption of 325,000 tons due to timely import of sugar.
He further said the sugar industry would continue to support the government in its efforts to control sugar prices and also suggests measures required to keep the prices at affordable levels for consumers.
At the moment prices of sugar in the international market have gone all time high and sugar arriving at Karachi seaport is costing around Rs 38 to Rs 39 per kg. Decision of the government to sell sugar to retailers at subsidised rates is in the interest of general public at large, he said. He hoped that the government would take all stakeholders into confidence in the larger interest of national economy.