Country Can Earn $1b By Exporting 1.5m Tonnes Of Surplus Sugar: PSMA.

ISLAMABAD -- A spokesman of Pakistan Sugar Mills Association has categorically rejected the commerce ministry's statement that there is not sufficient amount of surplus sugar available in the country and there is only 0.4 million tonnes surplus stock currently present. The data available with the Ministry of Industries and Commerce Ministry said that the country holds surplus sugar stock of 2.0 million tonnes.

In a statement, the spokesman said that the minutes of last meeting of the Sugar Advisory Board also proposed that 7.8 million tonnes of sugar had already been produced whereas at that time crushing season was in progress. The sugar produced from sugar beet was also available which added to this surplus stock, hence a total of 8.1 million tonnes of sugar was available by the end of previous crushing season. Estimating the consumption at the rate of 0.5 million tonnes per month makes to a total of 6.1 million tonnes for the entire year. These figures suggest that 2.0 million tonnes of surplus sugar was available in the country.

He said that estimated figures are based on the average consumption during the current season. They totally are based on the last stock available with the sugar mills whereas ample stock is available with the stockists and retailers. The ministry's claim of less surplus sugar stock is totally baseless and not based on ground realities. He added that in the last Sugar Advisory Board's meeting dated 14-04-2022, Provincial Cane Commissioner and relevant federal ministries authenticated the above figures. Furthermore, the spokesman stated that the Federal Board of Revenue (FBR) installed a very efficient Track and Trace System through which highly authentic data continuously becomes available to FBR. The fear of reduction of stocks expressed by the Ministry of Commerce is...