Decision to export 0.2mn tonnes of sugar hailed

RECORDER REPORT

MULTAN: Muhammad Khan Saddozai, President of Multan Chamber of Commerce and Industry (MCCI) has hailed the decision of the Economic Coordination Committee of the Cabinet (ECC) to allow the export of 200,000 tonnes of sugar in addition to leftover quota of already approved export after fulfilling four conditions. In a press statement issued here on Saturday Muhammad Khan Saddozai said that this decision would be helpful in stabilising the sugar prices in the country besides saving sugar mills from further losses.

It may be recalled that the government, in pursuance of the ECC decision, has allowed the export of 200,000 tonnes of sugar in addition to the leftover quota of the already approved export after fulfilling four conditions. The Ministry of Commerce  said that the conditions would be that 200,000 tonnes of sugar would be exported in addition to the leftover quota of already approved export, the export shall be made against an E form.

The other conditions would be that a quantity not in excess of 10,000 tonnes shall be allowed to be exported by individual sugar mills and the State Bank of Pakistan will monitor the sugar exports and no form E shall be issued in excess of any individual mill quota and cumulative ceiling mentioned above.