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ECC allows export of 1.5m metric ton sugar

ISLAMABAD: The Economic Coordination Committee (ECC) has allowed the export of 1.5 million metric tons sugar viewing availability of surplus sugar.

The ECC took this decision, viewing the recommendations of the recent Council of Common Interests during its meeting in Islamabad on Tuesday with Prime Minister Shahid Khaqan Abbasi in the chair.

Read More: ECC approves export of additional 0.3m tonnes

The committee permitted procurement of goods and services as per the provisions of the Framework Arrangement and EXIM Bank of Korea Guidelines. In order to discourage fuel adulteration and tax evasion, the ECC allowed addition of Fuel Marker in Superior Kerosene Oil.

The ECC also approved determination and notification of UCH-II Gas price, as agreed under Gas Pricing Agreement by Oil and Gas Regulatory Authority. The ECC accorded its approval for making necessary amendments in the ECC approved Supplemental Agreement to Implement agreement for the China Pakistan Economic Corridor projects.

Read More: Sri Lankan president invites Pakistan to invest in sugar and cement industries

The meeting also agreed to a proposal for levying of regulatory duty on import of LPG. The step would help maintaining parity with the locally produced LPG. The ECC also allowed disposal of 500,000 tons of surplus wheat of PASSCO through local sale.

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