The Economic Coordination Committee (ECC) of the Cabinet approved the export of 0.15 million metric tons (MT) of surplus sugar.
According to the details, the ECC approved the export of surplus sugar with the condition that if the retail price of sugar rises, the export permission will be revoked.
The proposal to allow the export of surplus sugar was tabled by the Ministry of Industries & Production.
It was also directed that export proceeds must be used by the mills to clear overdue payments to farmers.
Earlier, on June 10, the Sugar Advisory Board (SAB), chaired by Federal Minister for Industries and Production, Rana Tanveer Hussain, had conditionally approved the export of 150,000 metric tons of sugar.
The board emphasised maintaining sufficient local stocks to ensure a smooth supply of sugar in local markets at sustainable prices. An agreement was reached between the government and the PSMA to guarantee this.
