ISLAMABAD: The Sugar Advisory Board (SAB) approved the export of 40000 metric tonnes of sugar to Tajikistan, ARY News reported.
In a meeting chaired by Minister for Industries and Production Rana Tanveer Hussain, the Sugar Advisory Board decided the arrangements to export sugar to Tajikistan would be made by Trade Corporation of Pakistan after approval from the Economic Coordination Committee of the Cabinet.
The meeting reviewed the stock position of the sugar in the country which is reported to be 2.852 metric tonnes as of now.
“The available stock is sufficient to meet local demand of sugar. Pakistan Sugar Mills Association was of the view that there is a 1.5 Million MT surplus stock of sugar available in the country which should be exported to support Sugar Industry to earn revenue to meet financial obligations of growers,” a statement issued by the SAB read.
The minister directed Ministry of Industries and Production, Provincial Cane Commissioners and Federal Board of Revenue to carry out a reconciliation of stock and present a report in the next meeting of SAB which is likely to be held on coming Tuesday.
Read More: ECC okays ‘conditional’ export of sugar
The meeting was attended by the Secretary, Industries and Production, other high ranking federal Officers, representatives from provinces, representatives from Pakistan Sugar Mills Association, Provincial Cane Commissioners, FBR officials, and growers.
Earlier, the Economic Coordination Committee (ECC) of the federal cabinet allowed the Ministry of Industry and Production to export 150,000 tonnes of sugar
The approval is subject to the condition that the export of sugar 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.
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