LAHORE - Pakistan Sugar Mills Association (PSMA) has requested the prime minister to allow the export of 0.5 million tons of sugar before the start of the next crushing season.
In a letter written to the prime minister, PSMA said that the production of 5 million tons of sugar was expected in the upcoming season, while the consumption stands at 4.2 million tons. Therefore, in view of the 0.4 million tons of additional sugar stock, the government should allow export of 0.5 million tons. Besides, the government should also allow export of sugar to Iran, which is willing to buy 0.1 million tons of raw sugar.
PSMA chairman Javed Kiyani said that the sugar export as against the contracts remained less due to low prices in the international market. Therefore, the government should direct the central bank to cancel all such export contracts against which sugar could not be exported till now, PSMA letter to PM said.