Islamabad: Pakistan government has decided to exempt the competitive bidding process to speed up the sugar import to meet the domestic need. The government plans to import 3,00,000 metric tonnes of sugar.
According to the media report, in its summary to the Economic Coordination Committee (ECC) of the Cabinet, the Ministry of Industries and Production showed sugar stocks depleting from 3.365 million metric tonnes on May 11 to just 1.685 million tonnes on July 22.
The ECC has also set up a committee headed by the finance secretary to speed up the procedure to speed up the import of sugar anticipating the shortfall.
If the situation persists, the country will not have sugar for consumption by September, three months before the next crushing season starts.
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