June 13, 2006	Tuesday	Jumadi-ul-Awwal 16, 1427

ISLAMABAD, June 12: Pakistan imported 500,960 tons of sugar, mostly from India, during four months (January-April) of this year to stabilise sugar prices which touched a record level of Rs45 per kg.

Of these, the share of the Trading Corporation of Pakistan (TCP) stood at 325,000 tons. The TCP is currently supply sugar to all utility stores which are selling it at Rs27.5 per kg.

However, this massive import fails to bring down sugar prices at the retail stage to the desired level. The average retail sugar price in Islamabad is Rs42 per kg while in Karachi it stands at Rs39 per kg.

The statistics showed that sugar stock available with the TCP till June 7, 2006 was 237,777 tons, besides 100,000 tons imported by the private sector. Similarly, the Pakistan Sugar Mills Association (PSMA) -- an association of 78 sugar mills -- had declared 1,150,000 tons stock on May 31. This means that Pakistan has a stock of 1,487,777 tons of sugar that will be available for consumption till the next crop is available.

Responding to a written question of MNA Asadullah Bhutto in the National Assembly here on Monday, Commerce Minister Humayun Akhtar Khan said the available stock would be sufficient for consumption as well as for buffer stock up to December 2006. “There is no apprehension of shortage of sugar in the country,” he added.

The minister informed the lower house that the quantity awarded by the TCP for import till June 7 stood at 682,000 tons. The total availability of sugar on December 15 will be 2,169,777 tons.

Mr Khan said further that total sugar consumption from June 1, 2006 to December 15, 2006 (possible date for arrival of new stock), would be 2,050,000 tons.

He explained that the calculation of sugar consumption in the months under review was carried out on the basis of 0.316 million tons per month consumption.

He claimed that according to this calculation, there would be a surplus sugar stock of 119,777 tons in the country as on December 15, 2006.