Lahore, Pakistan: Pakistan’s Punjab government cancelled import of a vessel carrying 25,000 tonnes of sugar as the sugarcane crushing season commenced with a surplus stock of 63994 metric tonnes.
According to the media report, the Punjab government has asked the Pakistan Trading Corporation to allow the utility stores Corporation to purchase 26,700 metric tonnes of sugar quota arriving from Brazil by November end. The USC and KP had already lifted 25,000 and 14,000 metric tonne sugar quota from Punjab government.
Over $52 million foreign exchange had been consumed on the import. Few months ago Pakistan witnessed sugar shortage following which country decided to import sugar to meet the domestic needs.