Islamabad, Dr. Gohar Ejaz, Pakistan’s Minister for Industries and Production, recently presided over a Sugar Advisory Board meeting in Islamabad, tackling critical issues facing the sugar industry.

According to the Press Information Department, the meeting brought together high-ranking officials, including the Secretaries of Industries and Commerce, representatives from the Pakistan Sugar Mills Association (PSMA), the Federal Board of Revenue, and Provincial Administrations. The key topic of discussion was the industry’s current excess closing stocks of sugar, estimated at 900,000 tons. The PSMA requested permission to export up to 500,000 tons of sugar, citing the onset of the crushing season and an abundant sugar cane crop. However, this request was denied by Dr. Gohar Ejaz, prioritizing the broader interest of consumers.

In response to the industry’s cash flow challenges, the PSMA proposed that the Trading Corporation of Pakistan (TCP) purchase a minimum of 500,000 tons from millers to stabilize the market. The meeting’s participants agreed to explore this proposal collaboratively, with a strong emphasis on preventing any abrupt increases in retail sugar prices.

Minister Dr. Gohar Ejaz emphasized a shift away from previous policies of exporting sugar, followed by imports. He highlighted the importance of conserving financial resources, affirming his commitment to avoiding actions that could lead to losses for the national exchequer. The Minister assured that future decisions regarding the sugar industry would be made with a focus on national interests.

The meeting concluded with a resolution to foster cooperative efforts between the government and industry stakeholders. The aim is to effectively address the current challenges, develop sustainable solutions, and ensure the long-term prosperity of both the sugar sector and the nation.