Reduction in the taxes on the imported sugar will result in a low sugar rate. According to the media report, it is expected that imported sugar will be available at Rs80 per kg.
Pakistan has decided to import 300,000 tonnes of sugar as it currently has a stock of 1.2 million tonnes of sugar that may run out in two months. The Economic Coordination Committee (ECC) has decided to reduce taxes on the imported sugar which will be of 1% as against 17%.
The decision was taken in a meeting of the ECC that was chaired by Abdul Hafeez Sheikh, an adviser to the PM on Finance. The orders have been given to the Trading Corporation to initiate the process of importing sugar and issue tenders in this regard.
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