Latest news with #PakistanSugarMillsAssociation
Express Tribune
19 hours ago
- Business
- Express Tribune
Govt warns of action against sugar overpricing
Listen to article Federal Minister for National Food Security and Research Rana Tanveer Hussain has said that the government will initiate a countrywide crackdown against the mills involved in hoarding, profiteering or overpricing, if the Pakistan Sugar Mills Association (PSMA) failed to play its due role in ensuring compliance with the notified price among its members. Rana Tanveer chaired a high-level meeting on Tuesday with representatives of PSMA, provincial agricultural departments and key stakeholders from across the country. The meeting was convened to review the current sugar price situation and compliance with the government's notified ex-mill rate of Rs165 per kilogramme. The minister expressed grave concern over reports that several sugar mills were not complying with the fixed price and were contributing to artificial inflation in the market. He categorically said that the government would not tolerate such manipulation of the market, which places an unfair burden on the common man. He issued a strict warning, stating that if the association failed to play its role in ensuring compliance among its members, the government would be compelled to initiate a countrywide crackdown. The minister emphasised the need for transparency and fairness in the sugar supply chain. He also asked all provincial governments to provide detailed compliance reports within 24 hours and enhance monitoring at the district level to curb any illegal practices by mill owners. He stated that the food security ministry would work in close coordination with the relevant enforcement bodies including the Federal Board of Revenue (FBR) and provincial food authorities to take legal action against violators. Rana Tanveer reiterated the government's commitment to protecting the rights of consumers and maintaining price stability in essential commodities. He urged all stakeholders to act responsibly and cooperate fully with the government to ensure smooth supply and fair pricing of sugar across the country.
Business Recorder
3 days ago
- Business
- Business Recorder
PSMA urges Pakistan govt to deregulate sugar industry
LAHORE: The Pakistan Sugar Mills Association (PSMA) has urged the government to completely deregulate the industry. In a statement, a spokesman for the PSMA said the Association made this request during a general body meeting held today. It requested the federal government to consider deregulating the sugar sector, as has already been done by the provinces in the case of sugarcane. It said the sugar industry is the second largest agro-based industry in Pakistan after textiles. During the crushing season, it generates direct and indirect business activity worth Rs. 1,000 billion in agriculture, transport, allied industries, wholesale, and retail markets. It pays approximately Rs. 225 billion in direct and indirect taxes to federal, provincial, and local governments, and provides $4 billion worth of import substitution to the national economy. Pakistan-IMF talks on tax-free sugar import underway The industry utilizes indigenous energy by using bagasse, through which an allied steel industry has also been established. The generated power is exported to the national grid as well. With conducive policy interventions, an industrial chain using by-products of sugarcane could emerge, as has happened in many other countries. The use of ethanol in vehicles as fuel—similar to Brazil and India—could strengthen our national energy mix, which is heavily dependent on imported petroleum products. The Ethanol Blending Policy, formulated in Pakistan in 2009 and later discontinued, needs to be revived. The current potential of bio-ethanol is sufficient to replace 7% of the country's total gasoline consumption. Two very important agro-based sectors— rice and maize— are already deregulated, with rice exports alone fetching nearly $5 billion. There are no restrictions on the import and export of rice and maize in Pakistan. Both sectors operate on free-market principles and are functioning efficiently. Rice and maize growers receive international prices, which has encouraged investment in research and development, resulting in improved yields. In contrast, scant efforts have been made in Pakistan to develop new sugarcane varieties for improving yield and sucrose recovery. The government should adopt a permanent policy for the deregulation of the sugar sector so that it can continue contributing to the national economy through import substitution, increased business activity, employment generation, tax revenue, and substantial foreign exchange earnings from regular exports of surplus sugar. The sugar industry has advocated for deregulation in several meetings with the government, including the most recent Sugar Advisory Board meeting held on July 17, 2025. The formation of a committee by the federal government on the deregulation of the sugar sector is a welcome step, and it is hoped that—like other agricultural sectors—the sugar industry will be given the opportunity to realize its full potential for national development. Copyright Business Recorder, 2025
Business Recorder
3 days ago
- Business
- Business Recorder
PSMA urges govt to deregulate sugar industry
LAHORE: The Pakistan Sugar Mills Association (PSMA) has urged the government to completely deregulate the industry. In a statement, a spokesman for the PSMA said the Association made this request during a general body meeting held today. It requested the federal government to consider deregulating the sugar sector, as has already been done by the provinces in the case of sugarcane. It said the sugar industry is the second largest agro-based industry in Pakistan after textiles. During the crushing season, it generates direct and indirect business activity worth Rs. 1,000 billion in agriculture, transport, allied industries, wholesale, and retail markets. It pays approximately Rs. 225 billion in direct and indirect taxes to federal, provincial, and local governments, and provides $4 billion worth of import substitution to the national economy. Pakistan-IMF talks on tax-free sugar import underway The industry utilizes indigenous energy by using bagasse, through which an allied steel industry has also been established. The generated power is exported to the national grid as well. With conducive policy interventions, an industrial chain using by-products of sugarcane could emerge, as has happened in many other countries. The use of ethanol in vehicles as fuel—similar to Brazil and India—could strengthen our national energy mix, which is heavily dependent on imported petroleum products. The Ethanol Blending Policy, formulated in Pakistan in 2009 and later discontinued, needs to be revived. The current potential of bio-ethanol is sufficient to replace 7% of the country's total gasoline consumption. Two very important agro-based sectors— rice and maize— are already deregulated, with rice exports alone fetching nearly $5 billion. There are no restrictions on the import and export of rice and maize in Pakistan. Both sectors operate on free-market principles and are functioning efficiently. Rice and maize growers receive international prices, which has encouraged investment in research and development, resulting in improved yields. In contrast, scant efforts have been made in Pakistan to develop new sugarcane varieties for improving yield and sucrose recovery. The government should adopt a permanent policy for the deregulation of the sugar sector so that it can continue contributing to the national economy through import substitution, increased business activity, employment generation, tax revenue, and substantial foreign exchange earnings from regular exports of surplus sugar. The sugar industry has advocated for deregulation in several meetings with the government, including the most recent Sugar Advisory Board meeting held on July 17, 2025. The formation of a committee by the federal government on the deregulation of the sugar sector is a welcome step, and it is hoped that—like other agricultural sectors—the sugar industry will be given the opportunity to realize its full potential for national development. Copyright Business Recorder, 2025
Express Tribune
16-07-2025
- Business
- Express Tribune
Govt, sugar mills agree on Rs165/kg ex-mill price
Listen to article Federal Minister for National Food Security & Research, Rana Tanveer Hussain, chaired a high-level meeting today with the Pakistan Sugar Mills Association (PSMA) to address the implementation of the government-notified ex-mill price of sugar and ensure its smooth availability in the market. According to an official statement released on Tuesday, the meeting was attended by the chairman and senior members of PSMA, along with senior officials of the ministry. During the meeting, detailed deliberations were held on the enforcement of the ex-mill sugar price and steps needed to ensure immediate and uninterrupted supply of sugar across the country. As per the statement, the association appreciated the government's decision and assured its full cooperation in stabilising prices. The PSMA agreed to supply sugar at the ex-mill price of Rs165 per kg. It was mutually agreed that the impact of the price reduction would start reflecting in the retail market within the next two to three days. Speaking on the occasion, Federal Minister Rana Tanveer Hussain stated, "The government is fully committed to providing relief to the public. All possible measures are being taken to ensure the availability of sugar at affordable prices." He further emphasised that strict implementation of the retail price will be ensured and hoarding or profiteering will not be tolerated. The minister highlighted that an effective mechanism has been devised to curb artificial price hikes and ensure consistent supply. He reiterated that public interest remains the top priority of the government and that the ministry will continue to work in close coordination with the sugar industry to maintain price stability, reads the statement.
Business Recorder
15-07-2025
- Business
- Business Recorder
PSMA agreed for ex-mill price of sugar at Rs165/kg, ministry says
The federal government and the Pakistan Sugar Mills Association (PSMA) on Tuesday agreed to enforce an ex-mill price of Rs165 per kilogram in a bid to stabilize sugar prices and ensure uninterrupted availability in the market. The decision was reached during a high-level meeting chaired by Federal Minister for National Food Security & Research, Rana Tanveer Hussain, and attended by PSMA leadership and senior ministry officials. The PSMA assured full cooperation with the government's price control initiative and agreed to supply sugar at the notified ex-mill rate. It was mutually agreed that the impact of this reduction would be visible in the retail market within two to three days. 'The government is fully committed to providing relief to the public,' said Minister Hussain. 'Strict implementation of retail pricing will be ensured and any hoarding or profiteering will not be tolerated.' Pakistan cuts volume sought in sugar tender to 50,000 tons The minister added that a mechanism has been put in place to counter artificial price hikes and ensure continuous sugar supply. He reaffirmed the government's resolve to prioritize public interest and continue close coordination with the sugar industry for sustained price stability.
