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Ministry, millers sit to decide sugar prices on LHC directives
July 24, 2021
LAHORE: On the directives of Lahore High Court (LHC), the Ministry of Industry and Production has called a meeting of all sugar mills for fixation of sugar prices on Tuesday, July 27, 2021.
The ministry has fixed the meeting with the millers as the Pakistan Sugar Mills Association had approached the court for suspension of price fixation orders issued by the association on July 16, in which the consumer price was fixed at Rs88.24 per kilogram. However, the ministry has sent a notice to all the sugar mills’ CEOs, asking them to provide details of the 15 different items from December 20 to May 21. The notice referring the court order, stated that the millers would be given an opportunity to being heard regarding the ex-mill price of Rs70.42 per kg without tax and retail price of Rs88.24 per kg for the consumers.
Ministry, millers to decide sugar prices on LHC directives
July 24, 2021
LAHORE: On the directives of Lahore High Court (LHC), the Ministry of Industry and Production has called a meeting of all sugar mills for fixation of sugar prices on Tuesday, July 27, 2021.
The ministry has fixed the meeting with the millers as the Pakistan Sugar Mills Association had approached the court for suspension of price fixation orders issued by the association on July 16, in which the consumer price was fixed at Rs88.24 per kilogram. However, the ministry has sent a notice to all the sugar mills’ CEOs, asking them to provide details of the 15 different items from December 20 to May 21.
ISLAMABAD, July 23 (China Economic Net) - According to the data of Sensitive Price Index, sugar prices soared to Rs98-110 per kg in major cities of Pakistan in fiscal year 2021 as compared to Rs78-85 in the preceding year. Thus consumers have to pay Rs20-25 more.
Touching upon why the sugar prices increased, Iskandar Khan, Central President of Pakistan Sugar Mills Association, said “when mills buy expensive cane from the middleman, automatically sugar prices rise. So later it’s found that the recovery of sugar cane will be reduced this season. In the present price of sugar, 80% is the price of sugarcane.”
PSMA says to move court if sugar lifted under new price
July 20, 2021
LAHORE: Sugar-millers of Punjab have warned the provincial government of legal action if any attempt is made to lift the commodity from their premises under the new price, fixed on July 16.
The Punjab government, through a notification, No DD (PR)2-11-2021, fixed sugar price at Rs 88.24 per kilogramme. However, the Pakistan Sugar Mills Association (PSMA), through a letter to all deputy commissioners of Punjab, warned that the sugar price fixation matter was sub judice in the Lahore High Court (LHC). Thus the deputy commissioners should not take any illegal action or violate the court order.