ISLAMABAD: A Senate Standing Committee directed to immediately cut down sugar price by Rs7 to Rs8/kg, Geo News reported Friday.

Federal Minister for Industries and Production Manzoor Ahmed Wattoo said the lobby at Economic Co-ordination Committee did not allow the on time import of raw sugar.

The Senate’s standing committee held a meeting with Ishaq Dar in chair at Parliament House here.

The committee asked Wattoo that Trade Corporation of Pakistan bought 3 million tonnes of sugar from sugar mills at the rate of Rs25/kg; why this sugar was sold with Rs14 profit.

The committee members also asked the sugar mills first gave away their sugar at Rs25/kg; what happened that they want Rs50/kg for their sugar now.

The member also asked as to why ECC twice refused to import sugar despite the shortage of the sugar.

Wattoo held the lobby at ECC responsible for not importing raw sugar, adding a formal policy would be hammered out in two months.

The federal Secretary of Industry and Production said the 83 sugar mills of the country produce 68 lakh tonnes of sugar, adding the sugar production was 2.4 million tonnes.

The standing committee directed the federal government to call related officials and sugar mills owners and get Rs7 to Rs8/kg curtailed within one day.

The committee suggested government to cut off Rs4 to Rs5/kg in taxes and sugar mills owners were also urged to reduce their profit by Rs3 to Rs4/kg. link