Punjab govt decides to fix ex-mill price of sugar

LAHORE: In a bid to provide relief to the masses ahead of the holy month of Ramazan, the Punjab government has decided to fix the ex-mill price of sugar, ARY News reported.

Sources privy to the development said that the Punjab government has decided to notify Rs78 to Rs83 per kilo as the ex-mill price of the commodity. The provincial government, however, was mulling to fix retail sugar price at Rs86 per kilogram.

The matter will be discussed in the provincial cabinet meeting soon, the sources said, adding that strict action will be taken against those sugar mills that would violate the rates fixed by the government.

Read More: Surplus sugar output in Punjab as crushing season ends

Earlier on March 27, the sugar mills in Punjab had announced an end to the crushing season, producing 3,773,000 metric tonnes of the commodity, around 400,000 metric tonnes of surplus sucrose than the provincial need.

According to details, 3,773,000 metric tonnes of sugar had been produced in the province including the previous carry forward amount, which was more than the annual need for the entire population of the province that remains at 3,367,000 metric tonnes.

The province would have the need of 2,240,000 metric tonnes till the next year’s crushing season, as sugar mills had a stock of 2,542,000 metric tonnes. The province had a carry forward sugar stock of 39,000 metric tonnes from the previous year.

The post Punjab govt decides to fix ex-mill price of sugar appeared first on ARY NEWS.



from Business – ARY NEWS https://ift.tt/3fvJzdi

Comments

Post a Comment

Popular posts from this blog

Exports grow 17.3% to $2.35bn in July

ISLAMABAD: Pakistan’s exports grew by 17.3 per cent to $2.35 billion in the first month of the fiscal year 2021-22 i.e. July as compared to last year’s same period. This was stated by Adviser to the Prime Minister on Commerce and Investment Abdul Razak Dawood. He tweeted: “During the first month of this financial year (July), our exports grew at 17.3% to USD 2.35 billion as compared to USD 2 billion in July 2020.” Also Read: FAWAD HOPEFUL PAKISTAN WILL START EXPORTING VENTILATORS THIS YEAR “These are the highest ever exports in the month of July,” the PM aide said, urging exporters to “move full speed ahead to make 2021-22 another record-breaking year for our exports”. Earlier, Prime Minister (PM) Imran Khan commended the efforts of the Federal Board of Revenue (FBR) for collecting the highest ever tax in the month of July. In his Tweet, PM Imran Khan said, the collection in the month of July remained Rs.410 bn which is the highest ever in the month of July – & around 22% abo
Read more

74% of improvement works completed in three stations of Dubai Metro Red Line

Image
The Roads and Transport Authority (RTA) has completed 74% of a project to improve the entry points of three stations on the Dubai Metro Red Line namely the Dubai Internet City Station, Dubai Marina Station and the UAE Exchange Station. The selection of these stations was based on several criteria including the ridership, the number of users from People of Determination, the population density of the area, the geographical distribution of the surrounding areas, and the number of intermodal mobility journeys. The project aims to increase the capacity of stations to improve customers experience and improve the entry/exit points of stations to cater to the requirements of supply and demand in the area. The project will also contribute to transforming Dubai into a friendly city for people of determination and enhancing the connectivity with the metro stations. These improvements, which are funded by partners, will augment RTA’s revenues by creating additional space for commercial use. T
Read more

KE issues clarification on power tariff hike request

KARACHI: Karachi-Electric (KE) has clarified that it has requested the NEPRA for a tariff hike, which will have Rs0.49/kWh average impact of Fuel Cost Adjustment (FCA) of 6 months.  The KE spokesperson further clarifies, “the request made to NEPRA is in line with the mechanism given in KE’s Multi-Year Tariff whereby changes in fuel prices, generation and power purchase mix are passed through to customers along with certain annual adjustments.” “The major impact in monthly Fuel Cost Adjustment is due to increase in global prices of furnace oil, and RLNG. In line with KE’s request, NEPRA has scheduled a public hearing to allow Monthly Fuel Cost Adjustments (FCA) for the months of January 2021 to June 2021, and Quarterly power tariff variation for March 2021. Subject to the NEPRA Authority’s approval, the actual overall average impact of requests will be only PKR 0.49/kWh,” the spokesperson further added. The KE Spokesperson further adds, “similarly, the quarterly tariff variations inc
Read more