The Economic Coordination Committee (ECC) of the federal cabinet on Monday approved the export of 200,000 metric tons of surplus sugar.
The ECC considered a summary from the National Food Security and Research Division regarding permission to export the surplus stock.
This comes despite former finance minister Miftah Ismail’s recent warnings that sugar exports ahead of crushing season will push domestic prices up by around Rs. 50 per kg.
The committee approved the recommendations of the Steering Committee on Sugar, with safeguards to be implemented to protect domestic price stability.
The decision allows Pakistan to ship 200,000 metric tons of sugar to international markets while keeping measures in place to prevent any disruption to domestic supplies or a sharp increase in local prices.
The government thinks it has been closely monitoring the sugar market because changes in domestic availability can directly affect retail prices for consumers.
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