Prime Minister Shahbaz Sharif has said that the increase in the price of sugar is not acceptable in any case, the decision to export additional sugar will be taken by the Economic Coordination Committee.
According to the details, a special meeting was held under the chairmanship of Prime Minister Shehbaz Sharif to review the issues related to the export of sugar before the departure of the United Arab Emirates. In the meeting, the Prime Minister was briefed that if the crushing is not started, the sugar mills will go bankrupt in the next season. Azam was told that 40 sugar mills are close to closing due to financial problems in the coming season.
In the briefing to the Prime Minister, it was also told that sugar mills have paid 760 billion rupees out of 800 billion rupees to the sugarcane farmers this season, the mills still have to pay 40 billion rupees to the farmers this season, if sugar is not exported. If so, the sugar mills will not be able to crush in November. The authorities said that the country has 1.5 million tons of surplus sugar, if 5 million tons of sugar is exported, 26 million dollars will be earned.
Speaking in the meeting, Prime Minister Shahbaz Sharif said that the Economic Coordination Committee will decide the export of sugar. He directed the Economic Coordination Committee to review the stocks of sugar and the global market. 140 rupees ex-factory price of sugar mills for the entire year.
