The quantity of sugar in the country is more than the requirement. This was stated by Adviser to Prime Minister on Finance, Dr Salman Shah, while talking to APP after a meeting with a delegation of sugar importers at a local hotel on Friday.
The Adviser said that the meeting was held to review the situation and ensuring stable supply position in the country''s markets and bringing about improvement in it besides maintaining the prices and supplies at reasonable level.
He said that the members of the delegation "have committed" that during Ramazan the prices would not be allowed to go up and that supply would be ensured.
Salman said that the government has inventories in sugar, and the importers and mill owners also have stocks of this commodity. He expressed hope that during Ramazan there would not be any problem, and sugar prices would remain quite reasonable for the consumers.
The Adviser to PM said that Trading Corporation of Pakistan (TCP) has also made arrangements for 800,000 tons sugar, while importers have 250,000 tons. Besides, mill owners also have sufficient stock.
He said that sugar available in the country is more than the requirement. He said that TCP would maintain a strategic reserve of sugar of 0.4 million tons sugar. He said that the prices of the commodity internationally are quite reasonable. The Adviser to PM said that there is no rising trend in sugar prices in the country, rather they were coming down gradually.
He said that with the arrival of the new crop, sugar prices were expected to remain stable and the consumers would benefit from it. Dr Salman said that wheat prices in the country were stable for the past two years and this was because of maintenance of good reserve. He said that for the next crop of the commodity the farmers would also have good incentive for wheat production.
The Adviser said that importers have been provided subsidy for importing gram pulse (dal chana) and because of this there were some imports of this commodity. He stated that prices of `dal chana'' were quite stable.