ISLAMABAD (APP) - The Sugar Advisory Board here on Monday was informed by the Ministry of Food and Agriculture that approximately 3.4 million tons of sugar would be produced if due to good price for growers, 80pc of the sugarcane crop is crushed. The meeting discussed various measures to check soaring sugar prices which were on average at Rs. 65/kg. The meeting of the Board was held under the Chairmanship of Mir Hazar Khan Bijarani, the Federal Minister for Industries and Production. The meeting was attended by Federal Secretary Industries, Additional Secretary Industries and representatives of Federal Ministry of Food and Agriculture, Federal Ministry of Finance, Federal Ministry of Commerce, State Bank of Pakistan, Federal Board of Revenue, Chairman Trading Corporation of Pakistan, Managing Director Utility Stores Corporation. It was also attended by Secretary Food Punjab, Secretary Agriculture Sindh, Secretary Industries NWFP, Director Industries NWFP, Director Industries Punjab, Cane Commissioner Punjab, Chairman and Secretary General of PSMA, Pakistan Agriculture Research Council, Agriculture Policy Institute. The meeting was informed that the total cane crushed during the current season is 96,76,000 tones and the sugar produced is approximately 0.8 million tons. It was also informed that the indicative price of sugarcane had been notified by Sindh and Punjab as Rs. 102 per 40 kg and Rs. 100 per40 kg respectively but the average market rate is Rs. 140-160 per kg. The Ministry of Food and Agriculture said that approximately 3.4 million tons of sugar would be produced if due to good price for growers 80pc of the sugarcane crop is crushed. The meeting discussed various measures to check soaring sugar prices which were on average at Rs. 65/kg. The participants were of the view that sugar was available and the issue was to lower and contain prices for which supplementary imported stocks should start arriving at the earliest. The TCP informed the meeting that it had already tendered and 0.5 million tons of sugar that would start reaching the country by February 2010 while another 0.5 million tons would be following to be positioned inside the country at the earliest. In addition 0.5 million tons would be imported for maintaining strategic reserves/buffer stocks as already approved by the Cabinet. The USC would be additionally procuring 0.5 million tons of sugar for intervention from its outlets for the low income group. The Sugar Advisory Board also made the following decisions by consensus that will be finally decided upon by the Economic Coordination Committee of the Cabinet. That the price of sugarcane will be monitored independently by the Provincial Cane Commissioners on a daily basis since it determined eventual sugar price. To give incentive to the private sector to import 0.5 million tons of sugar sales tax, excise duty Sindh, be waived while import duty was already zero. To monitor the process State Bank of Pakistan will not open Letters of Credit beyond 0.5 million tons. The concessions will be allowed only if the consignments reached the country latest by the March ,31, 2010. Mir Hazar Khan Bijarani on the occasion, urged all stakeholders to work as a team since there was no problem that could not be resolved if there was well coordinated understanding of issues and a positive will on part of all players.