ISLAMABAD: The federal government devised a procedure for the export of 150,000 tonnes of sugar, ARY News reported citing sources.
According to the details, the sugar export quota will be divided among the provinces based on their installed crushing capacity, the government sources privy to the development said.
According to the devised plan, Punjab will get the largest share of 61 percent of the sugar export quota, while Sindh will get 32 percent and Khyber Pakhtunkhwa will get 7 percent. The sugar would not be exported from Balochistan quota.
The sources added that the sugar export quota will be distributed among the provinces through the cane commissioners. The federal and provincial governments will not provide any subsidy for sugar export
The quota of share will be fixed within seven days of the issuance of the notification.
The State Bank of Pakistan (SBP) will inform the Economic Coordination Committee (ECC) of the federal cabinet about the sugar export after 15 days.
Earlier on June 14, the ECC approved conditional export of 150,000 tonnes of sugar. It allowed the Ministry of Industry and Production to export the sugar which is subject to the condition that the export will not cause price hike in the domestic market.
The ECC maintained that if the price of sugar increases, the permission to export will be cancelled.
