Islamabad: The Economic Coordination Committee (ECC) of Pakistan has decided that if the domestic prices of sugar increase then it would halt the export of 150,000 MT of sugar, reports Brecorder.
The meeting of ECC presided over by Finance Minister Ishaq Dar was informed that the Sugar Advisory Board (SAB) reviewed the data provided by the provinces and the Federal Board of Revenue (FBR) regarding the sugar stocks for 2021-22, sugarcane production estimates for the 2022-23 and annual consumption projected for 2022-23.
The SAB stated that there was a discrepancy in the data provided by the FBR and the projections about sugar production are not factually correct. The chairman of the SAB stated that 150,000 tons of sugar should be allowed to be exported on a first come first served basis.
The Minister of Commerce and the PSMA stated that 200,000 tons of sugar should be allowed to export and the PSMA should be allowed to distribute the export quota.
