Pakistan, July 20 -- ISLAMABAD - The Pakistan Sugar Mills Association (PSMA) has strongly urged the federal government to deregulate the sugar sector, similar to how provinces have deregulated sugarcane. During its general body meeting on Sunday, PSMA emphasized that sugar is the second-largest industry after agriculture and deserves policy consistency to thrive.

In a detailed statement, PSMA highlighted that the sugar industry generates over Rs1,000 billion in business activity during each crushing season. It also contributes around Rs225 billion in taxes to federal, provincial, and local governments, while supporting retail, transport, and allied sectors. The association added that deregulation would help unlock the full potential of t...