Economic Coordination Committee bans export of sugar

ISLAMABAD: Economic Coordination Committee (ECC) has decided to impose immediate ban on export of sugar.

According to the details, The meeting was held in Islamabad on Monday with Adviser to the Prime Minister on Finance Sheikh Abdul Hafeez in the chair.

The meeting observed that there are sufficient and adequate stocks of sugar in the country.

The committee was given a briefing by the Ministry of Industries and Production on the current situation of sugar supply in the country. It was briefed to the ECC that adequate stocks of Sugar are available in the country but prices in both domestic and international market are showing an upward trend.

The Ministry of Industries and Production was directed to monitor sugar prices and availability situation and come back to ECC any time, if there is a need to import sugar in future to discourage hoarding and profiteering.

Government to crackdown against Sugar hoarders

Earlier on Feb 1, Prime Minister Imran Khan has directed to ban on export of sugar in a wake of  increase in sugar prices and to reduce artificial shortage.

According to the details, the Prime Minister has made a big decision to ban Sugar export.

The Prime Minister has directed the Economic Coordination Committee not to export the remaining quota of 1100 million tonnes of sugar and import 3 million tonnes of sugar to the Commerce Division at the federal level.

Following the Prime Minister’s directive, the Ministry of Industry and Production has asked the Commerce Division to approach the Economic Coordination Committee for not exporting the remaining quota of 1,100 million tonnes of sugar.