ایف بی آر کی پریس ریلیز

Sugar producers agree on Rs 45 per kg price for 3 months

Sugar producers have agreed to sell 200,000 tonnes of sugar at ex-mill price of Rs 45 per kilogram during the next three months, says an official press release issued by FBR Saturday.

The major cut in sugar prices has been made possible following an understanding reached between the government of Pakistan and sugar producers during a meeting at the Prime Minister’s House.

According to the understanding, sugar producers will sell 200,000 tonnes of sugar at ex-mill price of Rs 45 per kg for the next three months while the government in return will provide 50 per cent exemption on taxes levied on sugar.

It is hoped this arrangement will help in stabilising sugar prices in the local market besides easing the pressure on the common man till the next sugarcane crushing season in November 2009.