February 14, 2002	Thursday	Zilhaj 1, 1422

KARACHI, Feb 13: The retail price of sugar has surged by Rs2 per kg in the last 10 days to Rs23 from Rs21 per kg.

The wholesale prices, which were quoted at Rs1,850 per 100-kg bag 10 days back, have now increased by Rs270 per 100 kg to Rs2,120 on Wednesday, wholesalers said.

In some areas, retailers are charging Rs24 per kg depending on the locality.

Wholesalers said that millers were releasing the stocks at a snail’s pace so that the price could go up further at a desired level. So far they have succeeded in their tactics.

At a time when the sugar industry is seeking government’s permission for export, some importers are still active to bring in sugar from various countries despite ban imposed on March 2001.

A sugar miller said that July-January 2001-2002 figures, released by the Federal Bureau of Statistics (FBS), had showed import of 83,434 tons worth $22.68 million. “The government should check the persistent arrival of imported sugar despite ban otherwise,” he added.

He said officials in the Ministry of Commerce had also rejected “our proposal to lift 200,000 tons of sugar from the mills to alleviate the present glut aimed at safeguarding the interest of millers and growers of sugarcane.”

The sugar industry will take up the matter with Commerce Minister Abdul Razak Dawood when he returns Islamabad next week from America, he said.

A miller said that crop expectation from Sindh was quite grimed owing to lower yield and recovery, while situation in Punjab is satisfactory. Till January 15, piled up stocks of sugar stood at 730,927 tons.