The ECC stipulated that if prices were to increase, the export permission would be revoked.
ISLAMABAD: The Sugar Advisory Board (SAB) has approved the export of 40,000 metric tonnes of sugar to Tajikistan. In a meeting led by Minister for Industries and Production Rana Tanveer Hussain, the SAB determined that the Trade Corporation of Pakistan would handle the export arrangements, pending approval from the Economic Coordination Committee (ECC) of the Cabinet.
The meeting also reviewed the current sugar stock in the country, which stands at 2.852 million metric tonnes. The SAB noted that this quantity is adequate to meet domestic demand.
The Pakistan Sugar Mills Association reported a surplus of 1.5 million metric tonnes, recommending that the excess be exported to bolster the sugar industry’s revenue and support growers’ financial needs.
Moreover, the minister instructed the Ministry of Industries and Production, Provincial Cane Commissioners, and the Federal Board of Revenue to reconcile the stock and present a report at the SAB’s next meeting, scheduled for the coming Tuesday.
Earlier, the ECC of the federal cabinet approved the export of 150,000 tonnes of sugar, with the condition that this export should not lead to a rise in domestic sugar prices.
More From FactFile: Oil, ghee & sugar prices shoot up after tax-heavy budget 2024-25
The ECC stipulated that if prices were to increase, the export permission would be revoked.
The meeting was attended by the Secretary of Industries and Production, senior federal officials, provincial representatives, Pakistan Sugar Mills Association members, Provincial Cane Commissioners, FBR officials, and growers.
