PM defends decision to export imported sugar
ISLAMABAD: Prime Minister Shehbaz Sharif has defended the government’s decision to export around 108,000 metric tonnes (MT) of imported sugar, terming reports being circulated in the media regarding the initiative as “fallacious” and maintaining that the measure was aimed at preventing financial losses arising from the approaching expiry of the commodity’s shelf life. During a recent meeting of…
Prime Minister Shehbaz Sharif has defended the government's decision to export approximately 108,000 metric tonnes of imported sugar, dismissing media reports as "fallacious." The move, which came after a meeting of the Federal Cabinet, was aimed at preventing financial losses from the approaching expiry of the sugar's shelf life.
The decline in sugarcane production, coupled with supply-side constraints, had led to a significant increase in domestic sugar prices. The government had initially imported sugar last year to ensure adequate domestic availability and protect consumers from sharp price hikes. With international sugar prices on the rise, exporting the remaining stock was seen as a viable option to recover the landed cost and carrying cost of the commodity, avoiding potential losses.
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