Supply demand but of what? ECC okays export of 0.1m metric ton sugar

A key economic body of the federal government on Thursday decided to approve the export of 100,000 metric tons of sugar.

In a meeting of the Economic Coordination Committee (ECC) on Thursday, chaired by Federal Finance Minister Ishaq Dar, the matter of export of sugar came up.

The government, which is trying to secure US dollars from any and every source, decided to approve the export of 100,000 metric tons of sugar.

The committee further decided that the ECC would review the sugar situation on a fortnightly basis. The Pakistan Sugar Mills Association (PSMA) committed that the current price of sugar will not increase in the domestic market at least until January 31, 2023.

It is worth noting that the government and Sugar Mills Association has developed conflict over export of Sugar as the sugar mills owners said that government should allow the export of additional sugar.

Additionally, the ECC approved supplementary grants for the Ministry of Housing and Climate Change.

Of this, Rs7 million was for the Climate Change Ministry and Rs743.57 million for the housing ministry to execute development schemes.