LAHORE: The Pakistan Sugar Mills Association (PSMA) has rejected the ex-mill and retail price of sugar fixed by the federal government. The sugar mill owners have challenged the government decision regarding the prices of the commodity in the Appellate Committee.
\nAs per the sources, the mill owners were of the view that they cannot sell sugar \u2013 which cost them at Rs115 to Rs120 per kg \u2013 for less than Rs100. They warned of moving courts if Appellate Committee rejects their appeal.
\nIt is pertinent to mention here that the government, in response to the unprecedented 30 percent surge in retail sugar prices within a matter of weeks, set the retail price of sweetner at Rs98.82\/kg.
\nThe price of sugar includes Sales Tax at Rs14.58 per kg, a profit margin of Rs5.30, and a distributor\u2019s margin of 25 paisa per kg. The transport cost is calculated at Rs2 per kg, and the retailer\u2019s profit is Re1 per kg.
\nA government notification said after reviewing the data provided by the provinces and information reported by other government agencies, the Controller General of Prices has set the maximum retail price of locally produced \u201cwhite crystalline sugar at Rs98.82\/kg, at which it shall be made available to the general public\u201d. The ex-mill price maximum is Rs95.57\/kg, inclusive of sales tax. DNA<\/p>\n","protected":false},"excerpt":{"rendered":"
LAHORE: The Pakistan Sugar Mills Association (PSMA) has rejected the ex-mill and retail price of sugar fixed by the federal government. The sugar mill owners have challenged the government decision regarding the prices of the commodity in the Appellate Committee. As per the sources, the mill owners were of the view that they cannot sell […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-328619","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n