Pakistan Sugar Mills Association has strongly condemned malicious statement of Utility Stores Corporation (USC) and their approaching Competition Commission of Pakistan (CCP) against our members for non-cooperation and alleged cartelization. Spokesman of PSMA has said USC has its own issues of non-transparency, inefficiencies and other mal-practices which are rampant within the organisation. It has been reported by member mills participating in USC tenders that for payment of their outstanding amounts they have to follow "the procedure". The spokesman opined USC should procure at an appropriate time when sugar prices are lower especially during the crushing season.
The spokesman requested CCP and NAB to also probe into USC affairs and only then they should come to any conclusion. There has been no incidence of cartelization for the last four years when the commodity remained in surplus supply and a glut-like situation prevailed in the country. When there was ample surplus available both in local and international market prices remained subdued why we did not cartelize to manipulate prices during the last four years, questioned the spokesman.
He further said market is demand and supply driven. We neither manipulate the price nor do we indulge in hoarding of stocks. All the charges against the industry are frivolous and have no factual background. USC statement is based on mere conjectures, incorrect and capricious to show to the government that USC is working very efficiently, which is not the case. The fact of the matter is that the management of USC is extremely incapable to manage their affairs within their own framework. It is not the responsibility of sugar industry to maintain inventory of USC. The spokesman said USC should first get their house in order before making any public statement.