Thursday, October 21, 2021

Punjab decides to import sugar to stabilize market price: sources

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ISLAMABAD: The Punjab government has decided to allow the provincial food department to import sugar, quoting sources ARY News reported on Tuesday.

Punjab cabinet’s Services & General Administration (S&GAD) wing will issue notification to this effect, sources said.

According to sources, the province will import 150,000 tonnes of sugar to stabilize the price of the commodity.

The provincial government will import sugar to improve the reserve stocks of the commodity, according to sources.

Imported sugar will be sold at special shops and Sasta Bazaars (fair price markets) at controlled rate, sources said.

The federal government had earlier imported sugar to be sold at utility stores.

The Economic Coordination Council (ECC) in a session recently decided to import 50,000 ton of sugar in three phases to to meet the demand of the commodity.

In a previous meeting in August the ECC chaired by Finance Minister Shaukat Tarin had approved the import of 200,000 tonnes of sugar. The Trading Corporation of Pakistan was tasked with importing 200,000 tonnes of sugar, sources said.

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