KARACHI, March 26: Pakistan Sugar Mills Association (PSMA) has urged the TCP to purchase 0.2 to 0.3 million tons sugar out of the expected surplus of 0.621 million tons.

In a meeting held on Friday with the TCP chairman, a PSMA delegation led by Ismail Zakria suggested that the state corporation should purchase this quantity at the ex-mill price against cash payment to enable the sugar mills to overcome their liquidity problem.

PSMA had been seeking relief from the government by allowing the mills to export around 0.2 million tons, but so far this demand has not been met. But now the association wants the TCP to lift some stocks from the mills to enable them to continue their crushing season.

The TCP press release stated that the TCP chairman informed the delegation that the proposal would be examined in consultation with the concerned quarters.

Meanwhile, the PSMA press release stated that a delegation of PSMA held a follow-up meeting on Friday, March 22, with TCP chairman Masood Alam Rizvi regarding the “proposal under consideration for procurement of 200,000 tons of white refined sugar by the corporation from the sugar industry.”

It further stated that the meeting reviewed at length the modalities to be followed for the transaction with objective of sugar procurement by the TCP.

The sugar industry had been arguing that due to huge import of 619,754 tons of white refined and 600,000 tons of raw sugar during 2000-01 season resulted in carrying over stocks which the industry could not bear.