Summary for 0.5m ton sugar import being moved to ECC: Hammad

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 the 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.