Wednesday, January 13 2021

Mirphurkhas Sugar Mill approves revised cost of upto Rs 2 bln for Paper & Board Mill Project
January 13, 2021 (MLN): In view of revision in the scope of the Paper & Board Mill Project and the resultant increase in its production capacity along with efficiency, the Board of Directors of the Mirpurkhas Sugar Mills Ltd, in its meeting held on January 12, 2021, has approved the revised project cost of up to Rs. 2 billion. As per the notice issued to Exchange, the project will take approximately 24 months to become operational.
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Monday, January 11 2021

Sugar sector stakeholders at loggerheads over cane price
ISLAMABAD: As consu­mers continue to suffer from high prices of various commodities, a stalemate persi­sts between sugar mills, far­mers and government auth­o­rities on the value of sugarcane. The middlemen, on the other hand, were earning significant profits due to the new law that required payments through bank accounts only. Minister for Industries and Production Hammad Azhar on Saturday acknowledged that sugar prices were once again on the rise and said the government was co­n­­sidering abolishing imp­ort duties on raw sugar to ensure adequate stocks in the country at reasonable prices. Speaking on a private TV channel, the minister said his ministry would forward a summary to the Economic Coordination Committee (ECC) in this regard.
Related news categories: business misc sugar

Thursday, January 07 2021

‘Manipulated’ supply chain behind sugar price volatility
LAHORE: The government’s ‘lopsided’ surveillance mechanism, the alleged sugar cartel and above all hoarding have caused around Rs20 per kilo increase in the price of the sweetener in the last 15 days alone, leaving the inflation-stricken people with no option but to buy the commodity at higher rates. “Two or three weeks back, the price of sugar (powdered form) imported by the government was about Rs82 or so. It gradually jumped first to Rs85, Rs87 and then 90 in the retail market. Later, at several shops, this powdered sugar disappeared and was replaced with the locally produced cubic sugar which, at most of the shops, is currently being sold for Rs90 to 100,” a customer standing at a shop in Johar Town told Dawn. He criticised the government for paying no attention towards controlling price hike and resolving several other issues being faced by the public at large. “While the government continues focusing on the opposition by ignoring the public issues, the ‘mafia’ continues to fleece the commoners.”
Related news categories: business economic-indicators misc sugar