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Government temporarily banned the export of sugar

ISLAMABAD: Government has temporarily imposed the ban on export of sugar wile decided to delay the construction of LNG terminal, ARY News reported.

The decisions were taken in the meeting of Economic Coordination Committee (ECC) in Islamabad on Thursday. Finance Minister Ishaq Dar chaired the meeting allowing the exporters to complete prevailing order of 0.4 million ton of sugar.

The Cabinet reviewed implementation status of its 968 decisions and expressed satisfaction over 89 per cent compliance report. 

The Minister said that international financial institutions have reposed confidence in the economic policies of the government.

He said that the economy is now moving in the right direction and gave detailed instructions to accelerate efforts already being made by the Finance Division.

 Ishaq Dar said that foreign exchange reserves would reach more than $10 billion by the end of next month and around $16 billion by the end of the current year.    

IMF has reviewed downwards its figures for inflation it projected earlier and also raised the projection of the GDP growth from 2.8 per cent to 3.1 per cent.

Furthermore, Ishaq Dar Finance Minister Ishaq Dar asked comprehensive report from PIA over showing urgency in the purchase of new aircrafts.

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