ECC okays additional export of sugar
The Economic Coordination Committee (ECC) of the cabinet has allowed additional sugar exports of 150,000 tonnes and approved immediate disbursement of Rs60 billion to the state-run Pakistan State Oil (PSO) to address its liquidity challenges and ensure a smooth supply chain. In a meeting presided over by Finance Minister Ishaq Dar on Tuesday, the committee also decided to discontinue the subsidised supply of regasified liquefied natural gas (RLNG) to two Punjab-based fertiliser plants. On the recommendation of the Sugar Advisory Board (SAB) led by Food Minister Tariq Bashir Cheema, the ECC allowed the export of a total of 250,000 tonnes of sugar, including 100,000 tonnes already approved on Dec 15. The export would be allowed to sugar mills on a first-come-first-served basis. The meeting was informed that there were serious variations and inconsistencies in the sugar data provided by the provinces, and the Federal Board of Revenue and the provinces were constantly changing consumption and production figures.