Pakistan government has allowed the export of 150,000 metric tonnes of sugar while ensuring adequate local stocks to maintain a stable supply in domestic markets at reasonable prices.
Federal minister for industries and production, Rana Tanveer Hussain confirmed that the government has granted conditional permission for sugar export.
This decision was made during a meeting of the Sugar Advisory Board chaired by Minister of Industry and Production Rana Tanveer Hussain. A formal agreement was reached between the government and the Pakistan Sugar Mills Association (PSMA) in this regard.
The initial export allowance of 150,000 metric tonnes is notably lower than the 450,000 metric tonnes initially sought by the PSMA.
Federal food department officials indicated that the decision stemmed from the PSMA’s appeal to the Finance and Commerce Ministers for increased exports due to surplus sugar production this year.
A summary of the sugar export decision will be presented at an upcoming meeting of the Economic Coordination Committee (ECC) of the cabinet.
Officials assured that the ex-mill sugar rate would be capped at Rs 140 per kg and any further export decisions would be contingent upon prevailing market prices, as per an agreement between the government and PSMA.
