Finance Ministry says increase in demand & delay in crushing caused sugar price hike
KARACHI ( Web News )
Spokesperson of Finance Ministry Muzzammil Aslam on Saturday said that increase in demand of sugar and delay in crushing of sugarcane caused hike in price of the commodity.
Muzzammil Aslam, while addressing a press conference, said that government has sugar stock for 22 days but Sindh government is not asking the Center for cheap sugar nor is it starting crushing of sugarcane. He said that price of sugar is a provincial matter and because of that Punjab government raided several warehouses which were hoarding
sugar which reduced price of the essential commodity but on the other hand, Sindh government did not take any such action and is just busy in blaming the federal government for the hike.
The spokesperson said that crushing in Punjab will start from November 15 while one vessel would also be berthed in couple of days carrying 40,000 metric tons of sugar.
He added that daily requirement of sugar per day is around 15000 tons while the country has stock of 130,000 metric tons. It merits mention that price of sugar has significantly increased in past few days with price of the commodity reaching Rs.160 per kg in some parts of the country.
Dealers of sugar have blamed delay in crushing of sugarcane for the price hike and warned that the price will increase further in coming days.