Islamabad: Federal and Provincial governments of Sindh and Punjab are planning to purchase 0.50 million metric tons of sugar from sugar mills from February to June 2022 to avoid the price hike in the future.
According to the media report, person associated with the development said that the government is planning to build strategic reserves of sugar to ensure that there is a sufficient supply of the commodity in the market and avoid the possibility of importing it, said
When the prices of sugar will be lower in the market the federal government would purchase 0.30 million metric tons (MMT) of sugar and the provincial governments of Sindh and Punjab will purchase 0.20 MMT from the sugar mills.
The National Price Monitoring Committee (NPMC) had already directed the ministry of industries and production to build the strategic reserves of sugar to avoid fluctuations in sugar rates in the country.
A meeting of the Sugar Advisory Board (SAB) was conducted on 29-12-2021 to take a review of the sugar produced and projected output during the crushing year.
