Sugar Crisis in Pakistan 09

Business Economics, BUS 202
Presented to Mr. Masood Haider Zaidi / Ms. Amna Niazi
Sugar Crisis in Pakistan

It is a question that in Pakistan who is the responsible for sugar crisis and inflation of
prices in Pakistan? There are three terror tries involved in it but they are blaming each
other. One is the Government who is striving to hide its Failure in Government, the
second one is the owners of Sugar Mills, who are gaining benefit from the failure of
Government, and third one are the public who are using sugar and sugar and they do open
their eyes when doctor diagnoses them sugar, and they don't know either this diagnose is
due to crisis or prices.
Sugarcane is the second largest non-food crop after cotton and ranks fifth in respect of
acreage. Prolonged drought and heat stress decreased its production by 22 per cent in
1999-2000, and further 17 per cent in 2000-01.
An Introduction to Pakistan’s Sugar Industry
Pakistan is the 5th largest country in the world in terms of area under sugar cane
cultivation, 11th by production and 60th in; yield. Sugarcane is the primary raw material
for the production of sugar. Since independence, the area under cultivation has increased
more rapidly than any other major crop. It is one of the major crops in Pakistan
cultivated over an area of around one million hectares.
The sugar industry in Pakistan is the 2nd largest agro based industry comprising 81 sugar
mills with annual crushing capacity of over 6.1 million tones. Sugarcane farming and
sugar manufacturing contribute significantly to the national exchequer in the form of
various taxes and levies. Sugar manufacturing and its by-products have contributed
significantly towards the foreign exchange resources through import substitution.
Key Facts
No. of Mills 81 (71-Operational,2-Under
Construction, 4-Completed)
Crushing Capacity 6.1 Million tones
Contribution to Economy 3.0 – 4.0 Million Tones
- Share in GDP 1.9%
- Employment 1.5 million (directly & indirectly)
- Total Investment PKR 100 Billion (Approx)
Average Yield Per Hector 46.8 Tones
Total Cane Production 45.0 – 55.0 Million Tones
Cane Available 30-43 Million Tones
Average recovery of sugar 9.1 (vs. world avg. 10.6%)
Per Capita Consumption 25.8 Kg Per capita
Contribution to exchequer Rs.12.16 Billion
Waqar Ali Khan E-048
Executive Master in Business Administration, Fall 2009
Arguments by Sugar Mills owners and PSMA
The Mill owners demand the government should take steps to curb sugar smuggling to
Afghanistan in disguise of Gur export if the government wants to control the prices of
sugar in the country, mills representatives said this in a meeting of Sugar Advisory Board
held on Tuesday. The price of sugar in Afghanistan is from Rs 75-80 per kg. The price of
sugar in Pakistan is Rs 45-46 per kg. The price difference gives smugglers a chance
The farmers have reportedly blamed the mill owners of not providing adequate payments.
Records state that the payments to the growers were delayed for more than eight to ten
months. This discouraged farmers from sowing sugar cane and opt for growing wheat
instead to avail attractive incentives. Now comes time for manipulations by the mill
owners. Not only are the mill owners accused of delaying payments causing a decrease in
supply of about 15 to 20 percent as compared to last year, they have also hoarded large
amounts of supplies. These supplies have been hoarded (conveniently) in order to create
an artificial shortage in the market. The shortage then allows them to release stock as they
wish with prices that give them maximum profit. A man made crisis, which in fact is a
monopoly to earn maximum profit during peak consumption. Withholding supplies and
increasing prices for maximum profit has become a popular tactic. Previously during the
wheat crisis reports of withholding stocks kept surfacing
According to a press release by Pakistan Sugar Mills Association, dated July 23, 2009;
Sugar mills have stocks of 1.74 million tonnes white sugar, which are sufficient to cater
to the domestic requirement as of June 30, 2009 until the start of next crushing season in
November, said Pakistan Sugar Mills Association, Punjab Zone Chairman, Javed Kayani.
He said keeping in view of the sugar stocks and consumption pattern of the country we
can assure that there is hardly any possibility of shortage of the commodity in the current
calendar year. Replying to a question, Javed Kayani said cancellation of sugar import
tenders by Trading Corporation of Pakistan (TCP) was a step taken in the right direction.
As a result of this decision, government has saved huge amount of foreign exchange, as
price of the commodity has increased manifold in the international market. He said last
year well before start of crushing season 2008-2009, PSMA had proposed to the
government that raw sugar may be allowed to be imported to maintain strategic buffer
stock and to keep the price of sugarcane and sugar under control.
So On 23rd of July 2009, the PSMA Zonal Chairman could not expect a shortage, they
also canceled the import and right after a few days there is a shortage. How can we
expect that?

Arguments by Govt. official
Recently Supreme court of Pakistan has taken notice and has advised to sell the sugar at
Rs.40 per Kg. During the hearing of a case regarding sugar prices, Chief Justice Iftikhar
Chaudhary said they should have implemented on the verdict of High Court, instead of
challenging the high court’s verdict in the higher court. He faced the government officials
and said, ‘You came here for the perpetuation of this cartel and that sugar be sold at
Rs60/kg.’
Minister for Industries Mian Manzoor Ahmad Wattoo said Tuesday that sugar millers
should abide by High Court orders on sugar, if production cost falls below Rs40/kg
whereas Sugar Mills Association President Sikander Khan said that High Court’s ruling
is impracticable and they are willing to face the charges of the contempt of court in this
regard. In a meeting of Senate Standing Committee on Food and Agriculture the Minister
of Industries stated that High Court’s decision on sugar should be followed.” Government
is taking care of the people, however sugar mills too belong to Pakistan and not to any
hostile state.”Manzoor Wattoo said the Cabinet would hold a special meeting on sugar
crisis, in which the Ministry of Industries will give a briefing on the issue.
The federal cabinet has allowed private sugar millers the import of 0.35 million tons of
raw sugar before the start of crushing season in October or November as the food and
agriculture ministry anticipates a sugar shortfall of 1.5 million tons in 2009-10. The first
reaction to the federal government’s decision to increase sugar price came from the
Punjab government saying Islamabad did not consult the provincial government over
increasing the sugar price. The provincial government is determined to sell sugar at Rs40
in the province. The Punjab Chief Minister Shahbaz Sharif appealed to the federal
government to relax sales tax and excise duty on sugar.The Punjab government alleged
that the Federal Minister for Production Mian Manzur Ahmad Watto had unilaterally
decided to raise the price of sugar without consulting Punjab.
There are 82 sugar mills for crushing cane in the country but no sugar refinery for
processing imported raw sugar for public consumption. Imported raw sugar is only
processed by mixing it with cane juice during the crushing season. The government is all
set to give a go-ahead to the private sector to set up a sugar refinery at the Gwadar port to
meet local demand in the wake of high prices of the sweetener in the international
market.
Pakistan, Asia’s third-biggest user of sugar, bought 25,000 tons of white sugar from
Dubai’s Al- Khaleej Sugar Co. to bolster supplies and reduce prices. Trading Corp. of
Pakistan bought the sugar at $676 a ton, including freight costs, Pakistan may need to
import as much as 1 million tons by December, the Pakistan Sugar Mills Association said
on Aug. 19, 2009

Conclusion
The military owns Fauji sugar mills; more than 50% of the sugar in Pakistan is produced
in sugar mills owned by the most powerful politicians of all major parties and their
families.
Multiple sources indicate that the mills owned by President Asif Ali Zardari’s family and
the ruling PPP leaders include Ansari Sugar Mills, Mirza Sugar Mills, Pangrio Sugar
Mills, Sakrand Sugar Mills and Kiran Sugar Mills. Ashraf Sugar mills are owned by PPP
leader and incumbent ZTBL President Ch Zaka Ashraf.
The media reports also indicate Kamalia Sugar Mills and Layyah Sugar Mills are owned
by PML-N leaders. Former minister Abbas Sarfaraz is the owner of five out of six sugar
mills in the NWFP. Nasrullah Khan Dareshak owns Indus Sugar Mills while Jahangir
Khan Tareen has two sugar mills; JDW Sugar Mills and United Sugar Mills. PML-Q
leader Anwar Cheema owns National Sugar Mills while Chaudhrys family is or was the
owner of Pahrianwali Sugar Mills as it is being heard that they have sold the said mills.
Senator Haroon Akhtar Khan owns Tandianwala Sugar Mills while Pattoki Sugar Mills is
owned by Mian Mohammad Azhar, former Governor Punjab. PML-F leader Makhdoom
Ahmad Mehmood owns Jamaldin Wali Sugar Mills. Chaudhry Muneer owns two mills in
Rahimyar Khan District and Ch Pervaiz Elahi and former Minister of State for Foreign
Affairs, Khusro Bakhtiar have shares in these mills.
According to Mr. Manzoor Wattoo “The Brother Sugar Mills owned by PML-N Quaid
Nawaz Sharif and his family, has a stock of 10,000 tonnes, while the third mills is the
Kashmir Sugar Mills with a stock of 5,000 tonnes,” .
Just think who is responsible for this crisis; it has been created through a well planned.
Apparently, government was showing to control the crisis, but failed completely and
hopeful that government will accept higher price as per planned. Same had happened
with wheat in past. Our opposition and our favorite political parties are doing nothing, not
raising any voice for their vulnerable people in this crisis. No doubt, they have their own
interest either directly or indirectly. Our most MNAs and MPAs have their own sugar
mills or have some sort of interest on other sugar mills (if they are not owner of any);
they are all land lords and have no sympathy for their people. I believe sugar can be
easily sold Rs.35 per kilo Ex-Mill, and if sold at Rs.40 in the Market yet they can earn
Rs.5 per Kg which is the standard profit

References & Related Readings

http://www.nation.com.pk/pakistan-news-newspaper-daily-english-
online/Regional/Islamabad/05-Oct-2009/Sugar-sale-continues-at-Rs50-per-kg
Sugar sale continues at Rs50 per kg

By: Imran Mukhtar | Published: October 05, 2009
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ISLAMABAD - Islamabad Capital Territory Administration (ACTA) could not ensure

the availability of sugar at Rs40 per kg to the consumers despite Supreme Court’s
direction to the government.
According to a press release, Islamabad Capital Territory Administration (ICTA) has
decided that sugar would be sold in the market at Rs40 per kg after holding a meeting
with the sugar dealers of the capital here on Sunday.
In the meeting, Deputy Commissioner Islamabad, Amer Ali Ahmed said that ICT
Administration would strictly ensure the sale of sugar in the city at Rs40 per kg and
would not tolerate overcharging by anyone adding that raids would be conducted in the
markets to check and ensure the implementation of rate.
The traders were informed that sugar millers would provide sugar to the dealers at Rs 37
per kg.
However, this scribe visited various markets in the city to check the rates of sugar but it
was not being sold in the markets at the rate fixed by the government. Sugar was being
sold at Rs 49-50 per kg in Sitara market, I-10 Markaz, G-11 Markaz, Karachi Company
and other markets of the capital. Even the commodity was being sold at the Rs48 per kg
in all Sunday bazaars like Peshawar Mor bazaar and Aabpara Market etc.
To a query, Ramzan, a shopkeeper in Sitara Market told that he was not intimated to sell
sugar at Rs 40 per kg by the authorities concerned.

http://www.bloomberg.com/apps/news?pid=20601091&sid=auoSufP3juuI
Pakistan Buys 25,000 Tons of Sugar at $676 from Al-Khaleej

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By Farhan Sharif
Oct. 2 (Bloomberg) -- Pakistan, Asia’s third-biggest user of sugar, bought 25,000 tons of
white sugar from Dubai’s Al- Khaleej Sugar Co. to bolster supplies and reduce prices.
Trading Corp. of Pakistan bought the sugar at $676 a ton, including freight costs,
Shehzad Akhtar, import manager for the state-run agency said by telephone from Karachi
today.
Sugar has jumped this year as the weakest rainfall in more than three decades reduced
output in India, the world’ largest consumer and second-biggest producer. Too much rain
is delaying the cane harvest in Brazil, the top grower.
Pakistan may need to import as much as 1 million tons by December, the Pakistan Sugar
Mills Association said on Aug. 19.
To contact the reporter on this story: Farhan Sharif in Karachi at fsharif2@bloomberg.net
Last Updated: October 2, 2009 01:18 EDT
RAWALPINDI: The sugar crisis is unlikely to end despite the agreement between
the federal government and the sugar mill association raising the price of the
commodity from Rs36 to Rs55 as they did not take provinces and the people on
board.
The federal government and sugar mill owners chose the occasion ahead of Ramazan
when people were anticipating all time high prices of essential commodities.
However, it should not be forgotten that the government of Ayub Khan had gone for
raising just minor increase in sugar price. Last week, sugar price rose to all time high to
Rs60 to Rs65 in various parts of the country.
The government raised the price of sugar abruptly from Rs38 to Rs50 on the plea that the
sugar price in the international market was high. It was also announced that if imported
from Dubai the sugar would cost the public Rs65 per kg.

The increase of Rs12 per kg in the price of sugar is considered as the most unpopular
decision of the federal government.
The first reaction to the federal government’s decision to increase sugar price came from
the Punjab government saying Islamabad did not consult the provincial government over
increasing the sugar price.
The provincial government is determined to sell sugar at Rs40 in the province.
The Punjab Chief Minister Shahbaz Sharif appealed to the federal government to relax
sales tax and excise duty on sugar.
The Punjab government alleged that the Federal Minister for Production Mian Manzur
Ahmad Watto had unilaterally decided to raise the price of sugar without consulting
Punjab.
Mr. Shahbaz Sharif said the Punjab government recovered more than 250,000 bags of
sugar from hoarders in a bid to sell sugar to public at reasonable price, but the decision of
the federal minister in fact quashed the move of the provincial government.
Despite increase in the price of sugar, the commodity is still not available in the open
market.
The consumers were visiting Ramazan bazaars and utility stores where sugar is available
at Rs40 and Rs38 respectively.
The solution of sugar crisis is not in sight and it is feared that during Ramazan the crisis
is likely to assume new dimensions.
http://www.thenews.com.pk/print1.asp?id=198643
Govt may allow private sector

to set up sugar refinery Wednesday, September 16, 2009
By Aftab Maken
ISLAMABAD: The government is all set to give a go-ahead to the private sector to set up
a sugar refinery at the Gwadar port to meet local demand in the wake of high prices of the
sweetener in the international market, official and industry sources confided to The News
on Tuesday.
“Yes, the Ministry of Industries is considering allowing the private sector to set up a

sugar refinery at the Gwadar Port to deal with sugar crisis in the
long run,” an official of the Ministry of Industries and Production told The News but
requested not to be named.
“It is not the business of the government to set up an industry or run an industrial unit but
we will facilitate and encourage the private sector to do business by setting up industrial
units,” the official said.
The federal cabinet has allowed private sugar millers the import of 0.35 million tons of
raw sugar before the start of crushing season in October or November as the food and
agriculture ministry anticipates a sugar shortfall of 1.5 million tons in 2009-10.
There are 82 sugar mills for crushing cane in the country but no sugar refinery for
processing imported raw sugar for public consumption. Imported raw sugar is only
processed by mixing it with cane juice during the crushing season.
Besides import of 350,000 tons of raw sugar by the Pakistan Sugar Mills Association
(PSMA), the government would import 70,000 to 100,000 tons through the Trading
Corporation of Pakistan (TCP) which would be processed either by local mills or a
refinery in Dubai, said a well-informed official of the food ministry. “It is right time that
the government gets rid of the shackles of PSMA by allowing the setting up of a sugar
refinery for processing raw sugar,” the official said.
“We are studying the government’s plan for a sugar refinery in the country and have
submitted proposals in this regard,” a leading commodity importer said from Karachi by
telephone.
Since last year, India, who used to export raw sugar, “has become a net importer and has
set up 10 to 15 refineries on fast track as it sees a shortfall of five million tons in
sugarcane production,” he added.
During the season in India, the cost of refining raw sugar came to $60 per ton at the most,
allowing the refineries to make reasonable margins, said the importer.
A proposal for setting up a sugar refinery reveals the project requires an investment of
$30 million, which could be higher if the refinery wants to export electricity, generated
through high steam pressure system. It will reduce the cost of production with revenues
from power export.
It estimates the project capacity at 750 to 1,000 tons per day of refined sugar based on
Phospho-flotation and Ion Exchange technology and annual production at 0.25-0.30
million tons.
The proposal says electricity will cost nothing due to cogeneration of steam and power
(as steam will be generated at higher pressure and passed through a turbine). Power
requirement is 60 kilowatt hour (kwh) per ton of refined sugar and the refinery can run

330 days in a year, taking 30 days for maintenance.
The interested party also says they have commissioned a refinery for a sugar mill and can
build a refinery at a much lower cost and will commission it with their own manpower
and hand over the same to the client.
The cost of refining will depend to an extent on fuel cost, but taking coal as a fuel
available at $100 per ton the cost will be less than $60 per ton of refined sugar including
both fixed and variable cost, the proposal concludes.
http://www.dailytimes.com.pk/default.asp?page=2009\09\10\story_10-9-2009_pg5_17
Mills get 1.66m tonnes sugar back from commercial banks

By Razi Syed
KARACHI: Leading sugar mills retrieved around 1.66 million tonnes of sugar stocks lien
under different commercial banks after paying back loans of Rs 22.4 billion, a well-
placed source in the Trading Corporation of Pakistan (TCP) said Tuesday.
The sugar mills had kept the stocks with the commercial banks to obtain loans. After
having earned windfall profits by hoarding sugar they have now repaid more than 50
percent of the loan and are able to get their sugar stocks back.
“Besides artificial shortage of sugar for collusive pricing the stuck up stocks for loan
have also been a major reason behind sugar crisis,” he informed.
A number of sugar mills owned by renowned political persons have been involved in
artificial shortage besides they stopped to lift the remaining stocks of imported sugar
from TCP.
“This action was taken by the mills after advice by Competition Commission of Pakistan
(CCP) to terminate the agreement between All Pakistan Sugar Mills Association
(APSMA) and the Ministry of Industries and Production for fixing the ex-mill rate in
Sindh and Punjab.
“Only around 910,000 tonnes of sugar stocks are lying with the commercial banks and it
is hoped that mills will bring their stocks around 1.65 million tonnes back into the open
market,” he hoped.
A cartel of sugar mills quoted Rs 45 per kilogramme (kg) to lift sugar from the stocks of
the TCP in order to sell it for more than Rs 50 per kg at retail level.
The official said TCP through tenders sold around 10,000 tonnes imported sugar while

the buyers have so far lifted only 2,100 tonnes of the commodity.
He said, “This is routine procedure of TCP to accept higher bid from the buyer and TCP
is not involved in high pricing of the commodity,” he added.
He said these sugar mills have stocked over 75 percent of sugar production to create
artificial sugar shortage in the country so that price could be manipulated on their whims.
”We are in the market to stabilise the price and not to get involved in price war as TCP
stands for supporting the market,” he ascertained. He said according to laid down
procedure the TCP has the right to cancel the remaining rights of the buyers if they failed
to lift the commodity after the date they quoted in the tender document. He said, “TCP
did not procure sugar from mills since October 2008 and is still offering imported sugar
tenders for sale then why is the country facing sweetener crisis.”
The sugar price has touched around Rs 56 per kg at retail level and the government failed
to take appropriate measures to thwart off the root causes of the rising trend in the prices.
The CCP in a policy note to the federal government recommended it to terminate the
agreement between the APSMA and the Ministry of Industries and Production for fixing
the ex-mill rate of sugar in Sindh and Punjab.
Chairman CCP, Khalid Mirza urged to desist from entering into arrangements that have
the affect of encouraging collusive behaviour on the part of economic agents in any
sector. A spokesman of sugar mills association said that the mills could not sell sugar at
Rs 40 per kg as they bore around Rs 34 to Rs 38 per kg production cost.
International scenario: The sugar prices in the international market started declining and
on back of Indian government’s orders to sugar mills to double their production.
“The sugar price touched around $600 per metric tonne in the international market,”
analysts said. The price of sugar in the international market witnessed an increase of $10
per tonne during a month. He said now October contracts in international market changed
hands at 21.60 cents per pound (6.7 percent low). At London Commodity Exchange
Market, contracts changed hand at $537.20 per tonne with a decline of around $13 per
tonne. Four-time more rains in Brazil affected sugarcane production in the country while
worst-ever drought in India during the last 83 years has also contributed to the sugarcane
production loss. He said low production and more than usual imports by China, Russia
and European Union countries also fuelled the international sugar prices. He said in
September 2010 the demand and supply gap of sugar in international market would be 5
million tonnes.

http://www.psmaonline.com/psma/sugarnews/sugarnews.aspx
Hoarding of sugar: PSMA denies SBP allegation

[ Business Recorder - Monday, May 04, 2009 ]
ISLAMABAD: The State Bank of Pakistan (SBP) has accused sugar mills of hoarding,
but Pakistan Sugar Mills Association (PSMA) has categorically denied the allegation.
"Because of economic recession, during the past six months, average consumption of
sugar has come down to 307,853 tons, compared with usual consumption of 350,000
tons. This reduction of 40,000 tons in sugar consumption cannot be termed as hoarding,"
said Iskandar Khan, Chairman, PSMA, in a letter to the State Bank of Pakistan (SBP).
Pakistan Sugar Mills Association (PSMA) has urged the State Bank of Pakistan (SBP)
not to pressurise sugar mills for payment of loans and seasonal advances by July 31, 2009
which are normally due in October. The SBP, in its BPRD Circular No-2 of February 9,
2009, titled 'Margin restrictions for financing against the security of sugar stock (both
raw and refined)', had clarified that cash margin requirement imposed was not applicable
to financing facilities given for cane procurement for the on-going crushing season.
Iskandar had also held a meeting with Mansoor Siddiqui, Director, SME Finance
Department (SBP) and discussed the hardships being faced by sugar mills. He had also
written a letter to the SBP, to clarify the position with regard to sugar stocks and
clearance of loans. "SBP has set a deadline of July 31, 2009 for the clearance of loans and
advances taken against sugar stocks to discourage hoarding of sugar. It seems that SBP
has been misled," he said in the letter. At present, sugar mills and Trading Corporation of
Pakistan (TCP) have sugar stocks of 2,226,531 tons, and 321,035 tons respectively,
totalling 2,547,566 tons. Besides this, there is always stock of 400,000 to 500,000 tons in
the domestic market and pipeline. Based on the current consumption level, this stock will
last for over nine months ie, up to December 2009, while the crushing season would
commence in November 2009. "We have enough sugar to cater for our entire year's
demand. There is no shortage of sugar in the domestic market; therefore, instead of
importing 200,000 tons expensive sugar that would deplete our foreign exchange by $100
million, SBP should advise the GoP to procure sugar from the domestic industry," he said
in the letter. As SBP is concerned with the rising trend in the price of sugar, PSMA has
provided documentary proof that because of high cost of sugarcane ie Rs 130/- per 40 kg
(70 percent of the sugar production cost is the cost of sugarcane). This, coupled with high
interest rate, is the factor that had increased the prevailing sugar prices. PSMA has
requested the SBP to withdraw the BPRD Circular No 2 dated 9th February, 2009 and let
the sugar mills carry out their business as per the established practice for the clearance of
loans during the month of October.

http://www.psmaonline.com/psma/prelease/prelease1.aspx?xyz=248
[ Thursday, July 23, 2009 ]
Sugar mills have stocks of 1.74 million tonnes white sugar, which are sufficient to cater
to the domestic requirement as of June 30, 2009 until the start of next crushing season in
November, said Pakistan Sugar Mills Association, Punjab Zone Chairman, Javed Kayani.
He said keeping in view of the sugar stocks and consumption pattern of the country we
can assure that there is hardly any possibility of shortage of the commodity in the current
calendar year. Replying to a question, Javed Kayani said cancellation of sugar import
tenders by Trading Corporation of Pakistan (TCP) was a step taken in the right direction.
As a result of this decision, government has saved huge amount of foreign exchange, as
price of the commodity has increased manifold in the international market. He said last
year well before start of crushing season 2008-2009, PSMA had proposed to the
government that raw sugar may be allowed to be imported to maintain strategic buffer
stock and to keep the price of sugarcane and sugar under control.


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Business Economics, BUS 202

Presented to Mr. Masood Haider Zaidi / Ms. Amna Niazi

Sugar Crisis in Pakistan

An Introduction to Pakistan’s Sugar Industry

Arguments by Sugar Mills owners and PSMA

Waqar Ali Khan E-048

Arguments by Govt. official

Waqar Ali Khan E-048

Waqar Ali Khan E-048

References & Related Readings

Sugar sale continues at Rs50 per kg

ISLAMABAD - Islamabad Capital Territory Administration (ACTA) could not ensure

Waqar Ali Khan E-048

Pakistan Buys 25,000 Tons of Sugar at $676 from Al-Khaleej

To contact the reporter on this story: Farhan Sharif in Karachi at fsharif2@bloomberg.net

Last Updated: October 2, 2009 01:18 EDT

Waqar Ali Khan E-048

The provincial government is determined to sell sugar at Rs40 in the province.

Govt may allow private sector

Waqar Ali Khan E-048

Waqar Ali Khan E-048

Mills get 1.66m tonnes sugar back from commercial banks

Waqar Ali Khan E-048

Waqar Ali Khan E-048

Hoarding of sugar: PSMA denies SBP allegation

Waqar Ali Khan E-048

[ Thursday, July 23, 2009 ]

Waqar Ali Khan E-048

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