Since less fortunate customers have little to no access to the discounted goods at the state-run stores, the sugar problem at Utility Stores (USC) has worsened.
According to reliable sources, USC’s most recent offer to buy the good resulted in a tender offer of Rs. 130 per kg.
Sugar Supply
A tender to purchase 25,000 metric tons has been launched by the tender committee. Only JDW Sugar Mills Limited (PSX: JDWS) has so far submitted a response to the tender, offering to supply it at a price of Rs. 130 per kg.
As per the guidelines set forth by the Public Procurement Regulatory Authority, the tender committee will evaluate each bid as soon as it is submitted.
A price of Rs. 122 per kg had already been received, but Utility Stores terminated the bid due to technical issues.
Relevantly, despite government advice, retail and wholesale sugar prices increased by Rs. 40 per kg and Rs. 2,000 per 50 kg during the past three months.
Ishaq Dar, the finance minister, presided over the ECC meeting on Friday, in contrast. In order to comply with the judgement by the Sindh High Court, the Ministry of Commerce has requested from ECC that the final 32,000 MT be allowed for export within 60 days beginning on June 12.
To read our blog on “Govt. to impose 20% FED on sugary beverages,” click here.