‘Summary for 0.5m tons sugar import being moved to ECC’

ISLAMABAD: Federal Industries Minister Hammad Azhar said the summary for import of 0.5 million tons of sugar was being moved for upcoming meeting of the Economic Coordination Committee (ECC) of the cabinet.

In a tweet Sunday, the federal minister said provisional estimates suggest that local production of sugar would be higher than last season, but owing to low carryover stocks, the Trading Corporation of Pakistan (TCP) in consultation with provinces would be advised to initiate imports early.

He said the provinces would be advised to release this sugar at retail stage at subsidised and control rates. The cane commissioners have reported ample supply of sugar and sugarcane for the time being, he said, adding, any reports to the contrary were fake news. Summary for import of 500k tons of sugar is being moved for upcoming ECC meeting. Provisional estimates suggest local production of sugar will be higher than last season.