Pakistan cancels sugar contract with UAE firm

ISLAMABAD: Pakistan cancelled a 50,000-tonne white sugar contract with Sadan General Trading on Wednesday after the company failed to make a delivery on time, a government trade agency official said.

“We have cancelled the contract awarded to Sadan in February for 50,000 tonnes,” Anjum Bashir, chairman of the Trading Corporation of Pakistan (TCP), which issued the tender, told Reuters.

Row over duty on sugar imports to hit consumers

KARACHI: Consumers are set to suffer by paying high price for sugar despite fall in sweetener’s rate in the international market due to conflicting interest in sugar trade. The sugar dealers and importers said that the government indecisiveness encouraged the sugar lobby to turn the situation to its advantage.

The on-going row between sugar industry and private importers over the regulatory duty (RD) on import of sugar may end up benefiting one side but it would be the ordinary consumer, who would suffer if the government fails to act decisively on time, dealers said.

Rice, sugar prices start falling

KARACHI: Prices of various varieties of rice have declined by Rs2 to Rs10 per kg, while supply of sugar from the mills has resulted in some stability in its wholesale rates. 
 
A wholesale rice trader said that the price of a normal variety fell to Rs48 from Rs50 per kg, while Basmati (ponia) rice is now available at Rs45 as against Rs50 earlier.

He said the new 386 Punjab variety now sells at Rs35 as compared to Rs40 per kg, Kernal Basmati price fell to Rs75 from Rs80 per kg, while Kernal special Basmati rate has declined to Rs90 from Rs100 per kg.