LAHORE:The Punjab government has decided to launch a crackdown to check hoarding and price hike of sugar, terming the increase in sugar price by Rs4/kg by mill owners unjustifiable. The office of.
LAHORE: Apparently in a bid to streamline sugar supplies in the province, the Punjab cane commissioner has cancelled all forward buying deals beyond 15 days.
In a letter to all deputy commissioners in the province on Thursday, Cane Commissioner Muhammad Zaman Wattoo asked them to ensure that there is no future buying/selling other than permitted in the Punjab Sugar (chain-supply) Management Order 2021 is done in their respective districts.
The letter explains that the order allows an individual dealer or wholesaler to strike a future trade deal for 15 days, while this period for an industrial consumer is three months. The purchase/sale agreements beyond these periods by the mills are also prohibited, it adds.