ECC approved the proposal with the modification that the Finance Division shall provide the amount required for the import of 200,000 metric tons of sugar through a supplementary grant or through some other financial arrangement
Offers in the tender from the Trading Corporation of Pakistan (TCP) which closed on Tuesday were regarded as too high at a time when Pakistan's own grains harvest is starting, a trader said.
Wheat prices have risen since Russia announced grain export taxes to reduce its overseas shipments and cool Russian domestic prices.