Sunday, February 5, 2023

Govt agrees to allow export of surplus sugar: sources

Govt agrees to allow export of surplus sugar: sources

ISLAMABAD (92 News) - The government has agreed to allow export off surplus sugar, said sources in the Finance Ministry on Monday.

However, the final approval will be accorded during a meeting of the Economic Coordination Committee. The sources said that the opinion will also be sought from the federal cabinet before a meeting of the ECC.

Earlier on Monday, Federal Minister for Finance Muhammad Ishaq Dar chaired a meeting at Finance Division to review the demand and supply situation of sugar in the country.

The meeting reviewed the available stock position and future demand of sugar in the country and was apprised that sufficient stocks of sugar are available in the country. It was informed that sugar mills have started crushing the sugar cane in Sindh and Punjab provinces. It was also informed that production of sugar in the province of Sindh will be less than last year due to floods. The chair expressed satisfaction on the availability and production of sugar in the country and stressed on maintaining the strategic reserves of sugar and maintenance of prices of sugar for providing maximum relief to masses.

Federal Minister for National Food Security Tariq Bashir Cheema, SAPM on Finance Tariq Bajwa, SAPM on Revenue Tariq Mehmood Pasha, Secretary NFS&R, Special Secretary Finance and other senior officers from Finance and NFS&R also attended the meeting.