Islamabad: Pakistan will start the process to import 1,00,000 metric tonnes of sugar once the Economic Coordination Committee (ECC) of cabinet give its approval.
According to Pakistani media reports, The ECC meeting is summoned by the Finance Minister on Wednesday to approve the importation of 100,000 tonnes of sugar. The government plans to import sugar to build strategic reserves as well as to stabilize sugar prices in the domestic market that have risen to Rs 110 per kg.
At present, there is sufficient sugar to cater to domestic needs till November 15 after the government had imported 0.130MMT sugar.
Pakistan is reeling under high sugar prices. According to the statistics department, in major cities of the country prices crossed Rs 100 per kg. In the recent past, Pakistan had issued many international tenders to purchase sugar. The country in 2020 had approved the import of sugar to meet the domestic shortage.
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