The Pakistan Sugar Mills Association (PSMA) Sindh Zone condemned the arrest of sugar mills owners and other senior management in Punjab.
This alarming situation has further exacerbated the crisis-like situation of the sugar industry which is already facing severe financial constraints.
In a statement issued here, the PSMA Sindh Zone request the Federal Government to hold dialogue for resolving all issues instead of going for humiliation of those who had invested billions of rupees in the local industry.
The ongoing situation will hamper the contribution of the sugar industry, which directly employs more than 100,000 employees while indirectly, more than a million households are dependent on the industry. Moreover, the share of the sugar industry alone in the economy is around Rs500 billion.
In crushing season 2020-21, an excess amount of more than Rs 110 billion was paid into the rural economy on account of cane purchases.
Furthermore, it is important to note that Government is importing sugar ranging between $600-$700 per tonne, at a landed value of Rs130 per kilogramme without any tax.
The Government of Pakistan has exempted this guar from all taxes which is completely unfair to the local sugar industry and against the fundamental rights of growers, millers and all those that are dependent on the industry.
In effect, the Government is subsidising the foreign sugar industry and penalising its own Pakistan Sugar Industry.
