The Economic Coordination Committee (ECC) of Cabinet on Friday okayed an additional export of 500,000 metric tonnes of surplus sugar.
The approval was accorded at a meeting of the Committee chaired by Minister for Finance Muhammad Aurangzeb in Islamabad, according to a press statement.
The export is subject to an undertaking by the Pakistan Sugar Mills Association that their mills will commence production by the 21st of next month for the next crop year and the export quota of any non-compliant mill will be revoked.
The exporters will also ensure that the consignments are shipped within 90 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.
