Pakistan : Sugar industry calls for swift deregulation
The Pakistan Sugar Mills Association has urged immediate deregulation of the sugar sector, arguing it will boost efficiency and benefit farmers and industry alike. Deregulation could lift output to 12 million tonnes, enabling 6 million tonnes of exports worth $5 billion, plus $1 billion from ethanol, tapping nearby high-potential markets.
The Pakistan Sugar Mills Association (PSMA) has emphasised that deregulation of the sugar sector is the need of the hour and the government should implement such a policy at the earliest, which will be beneficial for both the farmers and the industry.
Upon deregulation, the sugar industry can achieve annual production of 12 million metric tons without any further investment or capacity enhancement. Of the total, it could create 6 million metric tons of exportable surplus through which the country could earn $5 billion with an additional $1 billion via ethanol exports, said a PSMA spokesman.
He pointed out that Central Asian States, Afghanistan and China had big potential for Pakistani white sugar, which was being exploited by India in spite of Pakistan’s vicinity and lesser transportation costs. “Exports of white sugar through an export facilitation scheme or a free trade agreement with these countries will ensure better forex earnings,” he said.
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Source : The Express Tribune
