In a bid to meet surged demands for sugar in Ramazan, the Trading Corporation of Pakistan (TCP) is all set to complete its 0.2 million tons sugar purchase operation on Tuesday, a TCP official has said.
According to the official, the state-owned corporation has to pay around Rs10 billion for purchase of 0.2 million tons of sugar which will take the total cost of sugar operation to Rs32billion this year as it had already purchased around 478,000 tons from domestic mills and made payments of Rs22 billion.
TCP has procured 87,000 tons sugar from local sugar mills so far out of the 0.2 million tons and the remaining sugar will be procured by Tuesday July 31, said the official, adding that the TCP will procure the required amount from 43 local sugar mills at Rs50,510 per ton.
He said that the corporation has already purchased 478,000 metric tons sugar from local mills out of which 378,000 tons was purchased at Rs46,250 per ton and the remaining 0.1 million tons sugar procured at Rs45,720 per ton. TCP had imported around 1.1 million tons of sugar during the last three years.
Published in The Express Tribune, July 25th, 2012.