Finance Minister Shaukat Tarin has instructed Finance Ministry to provide of Rs 18 billion to import refined sugar of up to 200,000 tons.
The decision was takne in the meeting of the Economic Coordination Committee (ECC) where Ministry of Industries and Production. briefed about the case and presented the below summary:
(i) Trading Corporation of Pakistan (TCP) to import 200,000 tons of refined sugar for fill strategic reserves of the country where country has already import approval of 500,000 metric tons with all applicable Public Procurement Regulatory Authority (PPRA) exemptions.
ii) Finance Ministry will arrange US$ 110 million for the import of 200,000 metric tons of refined sugar.
Finance Ministry conveyed its approval to the proposal in the meeting. ECC Chairman stated that it is critical to maintaining strategic reserves of sugar as sugar is a basic commodity. Moreover, increasing reserves will stabilize the price and prevent the sugar shortage in the country.
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