Govt to Sell Sugar at Rs. 110 Per Kg, Face Rs. 8 Billion Loss Below Purchase Cost
The federal government is considering selling 108,000 tonnes of sugar it imported last year at around Rs. 110 per kg, … Read More The post Govt to Sell Sugar at Rs. 110 Per Kg, Face Rs. 8 Billion Loss Below Purchase Cost appeared first on ProPakistani .
The federal government is contemplating selling 108,000 tonnes of imported sugar at approximately Rs. 110 per kg, which would result in an estimated loss of around Rs. 8 billion for the treasury. This is significantly lower than the reserve price of Rs. 184.8 per kg it had set in September. The Trading Corporation of Pakistan (TCP) opened bids for the stock in Pipri, Karachi, on November 13, receiving three bids from trading firms at prices ranging from $386 to $400 per tonne.
With the current exchange rate of Rs. 280 to the dollar, these offers translate to roughly Rs. 108–112 per kg. The matter is under review by a committee led by the Deputy Prime Minister.
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