ECC allows sugar exports

Export of up to 100,000 tonnes of sugar allowed

ISLAMABAD:

The Economic Coordination Committee (ECC) of the cabinet on Thursday approved a summary regarding the export of sugar during fiscal year 2022-23 and allowed its export up to 100,000 tonnes.

The cabinet committee further decided that the ECC would review the situation on a fortnightly basis, while the Pakistan Sugar Mills Association (PSMA) committed that the existing price of sugar will not increase in the domestic market at least until January 31, 2023.

Government sources told Reuters that the move was a bid to boost the country’s foreign reserves.

Published in The Express Tribune, December 16^th, 2022.

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