ECC allows export of 500,000MT of surplus sugar

The Economic Coordination Committee of Cabinet has approved additional export of five hundred thousand metric tonnes of surplus sugar. The approval was accorded at a meeting of the Committee chaired by Minister for Finance Muhammad Aurangzeb in Islamabad on Friday. The export is subject to an undertaking by Pakistan Sugar Mills Association that their mills will commence production by 21st of next month for the next crop year and export quota of any non-compliant mill will be revoked. The exporters will also ensure that the consignments are shipped within ninety days of allocation of quota. The ECC directed the Cabinet Committee on Monitoring Sugar Exports to continue monitoring the demand, supply and price situation of sugar in the country and update the Cabinet in this regard. The ECC also approved a compensation package for the deceased Chinese employees of Port Qasim Electric Power Company (Private) Limited. Source: Radio Pakistan