ISLAMABAD: The Economic Coordination Committee of the Cabinet (ECC), in its meeting chaired by Finance Minister Ishaq Dar, has allowed the export of 500,000 metric tons sugar by March 31, 2016.
In the first phase, 200,000 MT sugar will be allowed to be exported up to 31 December, 2015. By the end of January, an accumulative 350,000MT will be allowed, while the cut of date for the total accumulative volume of 500,000 MT will be 31 March 2016.
The meeting also decided that Rs13 per kg will be allowed as partial support for incidentals and freight for the export of this quantity and only those mills will be allowed to export which have cleared the outstanding dues of the farmers up to last season and have started crushing on full scale.
Pakistan Sugar Mills Association (PSMA) has lauded the government’s decision to export the sugar.
