Sugar Mills Association Welcomes Cabinet Committee Formation on Sugar Export
ISLAMABAD — The Pakistan Sugar Mills Association (PSMA) has welcomed the federal cabinet’s decision to form a special committee to oversee sugar exports, terming it a positive and timely step toward boosting the country’s foreign exchange reserves.In an official communiqué, the Association stated that Pakistan currently holds surplus sugar stocks and that exporting the excess…
ISLAMABAD — The Pakistan Sugar Mills Association (PSMA) has welcomed the federal cabinet’s decision to form a special committee to oversee sugar exports, terming it a positive and timely step toward boosting the country’s foreign exchange reserves.
In an official communiqué, the Association stated that Pakistan currently holds surplus sugar stocks and that exporting the excess quantity could generate up to 500 million US dollars in much-needed foreign exchange earnings for the country.
The PSMA urged the government to swiftly finalize the export policy framework to capitalize on existing opportunities in international markets. According to sources, the newly formed cabinet committee is expected to present its recommendations on export volume, terms, and modalities at the earliest.
Industry officials expressed optimism that a well-structured export plan would not only stabilize domestic sugar prices but also provide a significant boost to Pakistan’s struggling external account.
