Cabinet Allows Export of 200,000 Tons Surplus Sugar

The Economic Coordination Committee (ECC) of Pakistan's federal cabinet has greenlit the export of 200,000 metric tons of surplus sugar, according to a report by ProPakistani. This decision was reached after the ECC examined a briefing from the National Food Security and Research Division, which proposed the permission to export the excess stock.

This move comes amidst concerns raised by the former finance minister, Miftah Ismail, who had warned that exporting sugar before the crushing season could lead to a price hike of approximately Rs. 50 per kilogram domestically.

The committee's approval of this recommendation was made with safeguards in place to maintain price stability within the country. Pakistan has been granted the ability to send 200,000 metric tons of sugar to international markets, all while measures are being taken to avoid any disruption to the supply of sugar locally or a significant rise in prices for local consumers.

The government has stated that it has been closely monitoring the sugar market, as fluctuations in domestic availability can directly impact retail prices for consumers.

This development was first reported by ProPakistani and marked as the latest update on their platform.