Sugar mill owners have once again become active in seeking permission to export sugar, asking the government to allow the export of one million tons.
The Sugar Mills Association has submitted production and stock figures to the government, which has now started reviewing the data before making a final decision.
According to sources, the Sugar Mills Association has told the government that the country’s current sugar production stands at 7.8 million tons.
The association claims there is a surplus of one million tons of sugar and has requested permission to export that quantity.
Govt reviews sugar stock figures
The government has started examining the figures provided by sugar mills and cane commissioners. Officials suspect that sugar mills may also be declaring 300,000 tons of previously imported sugar as part of current stocks.
A committee headed by Ishaq Dar will review the figures and take a final decision on the export request.
Last year, sugar mills had also sought export permission by declaring surplus stocks. However, sugar exports later caused a shortage in the local market, leading to a rapid increase in sugar prices across the country.
The government eventually had to import sugar to rebuild surplus stocks and control the market situation.
Sugar deregulation policy
The government has already sent a policy to deregulate the sugar sector. After deregulation, sugar mills will be free to make their own decisions on exporting sugar.
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