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Sugar mill-owners welcome ECC decision
ISLAMABAD (April 06 2004): The Chairman Pakistan
Sugar Mills Association (PSMA) Punjab zone, Javed
Kayani has termed the ECC decision of procuring
0.2 million tons of sugar, as a right step in the
right direction and has noted that the millers
would honour their commitment of making 100
percent payments to the growers by May 15.
Talking to Business Recorder Javed Kayani said, "I
feel that the ECC has acted at the right time to
protect all the stakeholders of sugar sector and
its decision of buying 0.2 million tons sugar
would go a long way in strengthening the
industry."
The ECC on Monday has decided that the government
would buy 0.2 million tons sugar from the millers
to help them ensure payments to the growers and
banks of their seasonal loans.
To ensure prompt payments to the growers, the ECC
has set a deadline of May 15. All those mills,
which would sell commodity to the TCP, would be
bound to clear their dues to the growers before
this deadline.
Javed added that millers have always favoured the
growers and want them to be prosperous and growing
by getting good return on their produce.
He said that harmony of views among all the
parties concerned with the sugar sector could
ensure better return to all of them.
He hoped that the government would also implement
other long-term proposals recently submitted by
the industry, to solve the problems of sugar
stakeholders on permanent basis.
The PSMA has been calling upon the government to
buy at least 0.2 million tons sugar to stabilise
the prices in the open market. It referred
ex-factory price at Rs 15.50 per kg, which was a
continuous cause of loss to the industrialists.
Taking cognisance of the situation the government
had constituted a 12-member committee on sugar to
workout short as well as long-term policy. The
committee held series of meetings to review the
situation and finally submitted its comprehensive
report to the ministry of Industries and
Production.
Courtesy Business Recorder |
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Pakissan.com; Advisory Point
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