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Business Recorder
01-08-2025
- Business
- Business Recorder
Govt decides to deregulate sugar sector: minister
ISLAMABAD: Federal Minister for National Food Security and Research Rana Tanveer Hussain on Thursday said the government has decided to deregulate the sugar sector in a move aimed at stabilising the market. Addressing a press conference, he said that deregulation of the sugar sector includes prices, export and import. Under the deregulation, the government will not intervene in pricing, procurement, or supply mechanisms, allowing the private sector to operate freely. Dispelling rumours of sugar shortage and inflated prices, Hussain assured that sufficient sugar stock is available across the country. PSMA urges Pakistan govt to deregulate sugar industry He said that following reports of rising market prices, the government signed an agreement with sugar mills on July 14, fixing the ex-mill price at Rs165 per kg, with the retail price currently averaging Rs173 per kg. He emphasised that strict action is being taken against hoarders and profiteers attempting to create artificial shortages. 'The system is in place, and implementation is underway,' he said, adding the government has the name of some sugar mills owners on the exit control list (ECL). The minister said the country's sugarcane output for 2024–25 was initially projected at seven million metric tons, but climate-related disruptions caused a decline to 5.8 million metric tons. In response, Prime Minister Shehbaz Sharif ordered an immediate halt to sugar exports in January 2025 to safeguard domestic supply, he said. He said that by the end of the crushing season on April 30, the total available stock, including a buffer stock of 0.5 million metric tons, stood at 6.3 million metric tons—just enough to meet annual national consumption needs. Currently, the country holds about two million metric tons of sugar, sufficient to meet demand for the next three months, the minister said. Defending the government's earlier decision to allow sugar exports, Hussain said that such trade has been routine over the past decade, both in exporting surplus and importing when needed. He noted that the Sugar Advisory Board (SAB)—comprising federal ministers, secretaries, provincial representatives, and industry stakeholders—had approved exports last year based on available data. At the beginning of the previous sugar season, the country had an opening stock of 800,000 metric tons, with production reaching 6.8 million metric tons against domestic consumption of 6.3 million metric tons, creating a surplus of 1.3 million metric tons. 'Exports were allowed to protect farmers and millers,' he said, adding the market witnessed a price drop from Rs138/kg to Rs119/kg following the export decision in October 2024. He said the government has launched a crackdown against violators across the supply chain. Implementation will take some time, but the system is in place and action is underway, he said. According to Hussain, Pakistan earned $402 million by exporting 750,000 metric tons of sugar last year. To ensure domestic availability, the government also approved imports of up to 500,000 metric tons, although only 300,000 tons are expected to be brought in at an estimated cost of $150 million. 'The government remains committed to ensuring stability in the sugar sector while protecting the interests of both consumers and producers,' the minister said. Copyright Business Recorder, 2025
Business Recorder
28-05-2025
- Business
- Business Recorder
PASSCO's wheat reserves will not be released into open market: minister
ISLAMABAD: Federal Minister for National Food Security and Research Rana Tanveer Hussain said on Tuesday that the government will not release Pakistan Agricultural Storage and Services Corporation (PASSCO)'s strategic wheat reserves into the open market, reaffirming the government's commitment to ensuring national food security. Speaking during a meeting with representatives of farmer unions, the minister clarified that PASSCO's reserves are meant strictly for emergency situations. 'These reserves are maintained strictly for emergency situations and food security purposes,' Hussain said. Federal govt is no longer setting wheat prices, pulls plug on Passco 'Ensuring the food security of our population remains the top priority of the government.' In addition to addressing concerns over wheat availability, the minister also discussed the government's efforts to boost maize exports. He said that Pakistan is actively engaging with several countries to expand export markets for maize through diplomatic and trade-level initiatives. These efforts, he noted, are expected to yield positive results for the farming community and bolster the national economy. 'Pakistan's maize has high potential in international markets due to its quality and competitive pricing,' Hussain said. He added that the government is improving storage, logistics, and value chain mechanisms to support export efficiency. The minister also briefed the farmer representatives on various government initiatives aimed at enhancing agricultural productivity. These include improving farmers' access to quality seeds, modern machinery, and affordable fertilisers. He reiterated the government's resolve to address the grievances of the farming community through policy reforms and public-private partnerships. Copyright Business Recorder, 2025
The Star
29-04-2025
- Business
- The Star
Roundup: China's agricultural equipment sows seeds of prosperity in Pakistan: minister
ISLAMABAD, April 29 (Xinhua) -- The agriculture equipment and tools provided by China under the Socio-Economic Development Grant of the China-Pakistan Economic Corridor (CPEC) will sow seeds of prosperity for Pakistan and its farming communities, Pakistani Minister for National Food Security and Research Rana Tanveer Hussain said on Tuesday. Under the grant, China has provided Pakistan with 278 sets of agricultural machinery and equipment, including tractors, seeders, combine harvesters, photovoltaic water pump systems, among others, representing one of the largest China-aided agricultural equipment projects to Pakistan in recent years. Addressing the handing over ceremony of the equipment to the representatives of the provincial government, Hussain said that the lack of modern farm machinery is one of the primary constraints of low crop yields in Pakistan, and this "invaluable support" will significantly enhance the capacity of the research institutions of the country. "It will enable us to modernize our agriculture practices, improve crop yields, and address current challenges to our food security, such as water scarcity and climate change," he added. Speaking at the event, Federal Secretary of the Ministry Waseem Ajmal Chaudhry said that the support and cooperation coming from China is critical, not only for boosting and stabilizing agricultural exports and the economy, but also for promoting social harmony. Private sectors will also be included to bring these machines to the farms, ensuring that they are not just tested in the controlled environments of research institutes but under real farming conditions, he added. Chinese Ambassador to Pakistan Jiang Zaidong, who also attended the event, said that China and Pakistan are both traditional agricultural countries that need to maintain food security and improve their people's lives. "The United States' arbitrary imposition of additional tariffs on over 180 countries has severely infringed upon the legitimate rights and interests of all countries, severely undermined the multilateral trading system, and severely disrupted the global economic order," Jiang said. China is willing to jointly resist unilateralism and tariff bullying with the Pakistani side to safeguard the common interests of both sides and international justice, he added. Following the event, the machinery was displayed to the public, agricultural experts, engineers, and students, who showed significant interest. Talking to Xinhua on the sidelines of the event, Kamran Bilal, a student from a nearby agricultural university, said the machines will transform Pakistan's agricultural sector. "They will help us improve yields, save time, and better manage resources, which are critical for our country's agricultural growth," he said. Launched in 2013, CPEC, a flagship project of the China-proposed Belt and Road Initiative, is a corridor linking Gwadar Port in Pakistan with Kashgar in northwest China's Xinjiang Uygur Autonomous Region. It highlights energy, transport, and industrial cooperation in the first phase, while expanding to fields of agriculture and livelihood, among others, in the new phase.
