PSMA behind hike in sugar price: Hammad

0
88

TLTP
ISLAMABAD
Minister for Industries and Production, Hammad Azhar has said that the government is taking all possible measures to bring the sugar prices down.
In an interview with a private news channel, Hammad Azhar said that strict laws have been introduced to streamline the working of the sugar sector.
He blamed the Pakistan Sugar Mill Association (PSMA) for providing the government with incorrect data that led to a steep hike in the price of the commodity. He said the association informed the federal government of a 300,000 tonnes surplus in the May 11 meeting. “I was told we might even have to export it.”
“After the physical verification, that 300,000 tonne surplus changed into a 300,000 tonnes shortage,” he admitted. “At this point the government decided to import sugar,” he further said.
The situation, however, took a 180 degree turn when the sugar commission report issued a month later hinted at a shortage and recommended a physical verification of the stock. “We conducted physical verification in Khyber Pakhtunkhwa and Punjab and are still waiting for the Sindh government to do so.”
Azhar said the government found the demand increased by two-three times in Punjab. “Obviously, either they were showing us fake receipts or hoarding sugar,” he continued. “This created the impression of a shortage that led to a hike in sugar prices.” He said the government decided to import sugar as soon as the data was available.
Hammad Azhar said the Federal Board of Revenue, Federal Investigation Agency and National Accountability Bureau have also taken notice against sugar mills and physical verification has also been initiated for checking the sugar industry.
Replying to a question, the minister said the government is well aware of the problem of the masses facing price hike in different commodities. However, he assured the nation that all out measures have been taken to provide relief to the masses in the next few days.