Islamabad December 15 2022: The Economic Coordination Committee (ECC) of the Cabinet here on Thursday approved a summary regarding export of sugar during Fiscal Year 2022-23 and allowed its exports up to 100,000 metric tons (MT).
The summary was moved by Ministry of National Food Security and Research before ECC, the meeting of which was presided over by Federal Minister for Finance and Revenue, Senator Mohammad Ishaq Dar, said a press statement issued by the finance ministry.
Pakistan will earn approximately USD 50 million from export of sugar in international market
Indian traders were selling white sugar at about USD 490 a tonne free-on-board (FOB) this week, a discount to London white sugar futures, which were trading above USD 568 a tonne on Tuesday, dealers said.
The cabinet committee further decided that the ECC would review the situation on fortnightly basis, while the Pakistan Sugar Mills Association (PSMA) committed that the existing price of sugar would not increase in domestic market at least till January 31st, 2023.
The committee also approved Technical Supplementary Grants including PKR 7 million in favour of Ministry of Climate Change and PKR 743.57 million in favour of Ministry of Housing and Works for execution of its development schemes.
Among others, the meeting was attended by Federal Minister for Commerce, Syed Naveed Qamar; Federal Minister for National food Security and Research, Tariq Bashir Cheema; Minister of State for Finance and Revenue, Dr. Ayesha Ghous Pasha; Minister of State for Petroleum, Musadik Masood Malik; SAPM on Finance, Tariq Bajwa, SAPM on Revenue, Tariq Mehmood Pasha; Coordinator to PM on Commerce & Industry, Rana Ihsan Afzal; Coordinator to PM on Economy, Bilal Azhar Kiyani; Federal Secretaries, senior officers and office bearers of PSMA, the statement added.
