The Economic Coordination Committee of the Federal government has decided to continue the ban on the export of sugar.
According to the media reports, the decision was taken during the meeting of the Economic Coordination Committee that was held in Islamabad today (Tuesday, August 29) with Caretaker Minister for Finance, Revenue, Economic Affairs, and Privatization Dr. Shamshad Akhtar in the chair.
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During the meeting, the Ministry of National Food Security & Research submitted a summary regarding the cancellation of the export quota of sugar with a ban on the export of sugar while briefing the meeting about the production, stock position of sugar, consumption, and rising prices of sugar in the market, and its impact on overall food inflation.
The Economic Coordination Committee reviewed its previous decision regarding the export quota of sugar and after detailed discussion and deliberation decided that in light of the previous decision of the ECC on the matter, the ban on the export of sugar was already in place post Aug 10.
ECC further directed the Ministry of National Food Security and Research to prepare and submit regular reports on the availability of sugar stocks, consumption, and pricing to the ECC in order to enable it to monitor the availability and pricing of this important commodity. The Committee also directed the Ministry of NFSR to coordinate with all the relevant agencies and authorities to check the smuggling and hoarding of sugar. ECC also asked the Ministry of NFSR to provide the latest stock, availability, and prices of Wheat immediately.
