The Trading Corporation of Pakistan (TCP) is likely to start procurement of 0.2 million tons of sugar from November, 2013 from domestic sugar mills after the approval of Economic Co-ordination Committee (ECC) to meet the needs of Utility Store Corporation (USC), Canteen Stores Department (CSD) and Navy.
The representatives of TCP informed Sugar Advisory Board during a recent meeting that TCP had 6,231 tons of sugar stocks presently whereas procurement for 100,000 tons will be completed by mid September. A copy of minutes of the meeting is available with Business Recorder.
The requirement of USC, CSD and Navy is 50,000 tons per month and the total stock of 106,231 will be sufficient till October, 2013. However from November onwards more procurement would be necessary.
Sources said that the TCP procured 50,000 tons of sugar from sugar mills on July 3, 2013 and 49.992 tons on July 18, 2013. During 2012, the TCP procured 99.300 tons of sugar on January 23, 2012 while 209.700 tons was purchased on May 21, 2012 and 327.500 tons on December 12, 2012.
Presently Punjab has sugar stocks of 1,162,195 tons, Sindh 1,108,863 tons and KP 115,781 tons. In 2012-13, the total production of sugar in Punjab stood at 3.2 million tons, Sindh 1.531 million tons and KP 0.342 million tons.
The sources further said that Punjab produced 3.11 million tons of sugar, Sindh 1.26 million tons and KP 0.282 million tons during 2011-2012. Punjab is expected to produce 3.488 million tons of sugar, Sindh 1.684 millions tons and KP 0.376 million tons in 2013-2014.
The sugar industry in Pakistan is the second largest agro based industry after textile industry. Pakistan is an important cane producing country and is ranked fifth in world cane acreage and 15th in sugar production. The sugar sector constitutes 4.2 percent of manufacturing and employs over 1.5 million people, including management experts, technologists, engineers, financial experts, skilled, semiskilled and unskilled workers.
