LAHORE: The spokesperson for the Pakistan Sugar Mills Association (PSMA), Punjab Zone, has emphasized the government to take a prompt decision regarding sugar exports.
In a statement released on Sunday, the spokesperson emphasized the importance of the government implementing an efficient and lasting policy for exporting surplus sugar.
He highlighted that mills currently hold an excess of 1.5 million tons of sugar in stock, which has been brought to the government's attention.
Furthermore, he stated that timely approval for export would have been advantageous for the country, given that sugar was being sold at $700 per ton in the international market.
The spokesperson emphasized that the global sugar market price has declined to $553 per ton, diminishing the opportunity to generate significant foreign exchange for the country.
They noted that farmers are eager to allocate an additional 20 percent of land for sugar cane cultivation in the upcoming season, leading to increased sugar production domestically.
Furthermore, they asserted that the sugar industry aims to contribute substantial foreign exchange to the country without availing any subsidies.
