Prime Minister Imran Khan has approved the proposal to ban sugar export on Friday, the summary has been sent to the Economic Coordination Committee (ECC) after PM’s approval.
As per details, after the PM nod, the export of some 350,000 tons of sugar will be halted. Furthermore, the government will also import sugar to meet the demand and supply gap, and has also sent a summary on import of sugar to the ECC.
Earlier, it was learnt that the federal government is considering sugar import option meant to bring down prices which are hovering around Rs 90 per kg in the retail market.
The sugar industry maintains that it is paying Rs 200/40kg to the farmers in areas due to shortage of sugarcane, adding that the industry has to recover the cost from consumers.