Summary for 0.5mn tonnes sugar import being moved to ECC: Hammad

ISLAMABAD: Federal Minister for Industries, Hamad Azhar said Sunday that summary for import of 0.5 million tonnes of sugar was being moved for upcoming meeting of the Economic Coordination Committee (ECC) of the cabinet.

In a tweet, the federal minister said, the provisional estimates suggest that local production of sugar would be higher than last season, but owing to low carryover stocks, the Trading Corporation of Pakistan (TCP), in consultation with provinces, would be advised to initiate imports early.

He said that the provinces would be advised to release this sugar at retail stage at subsidised and control rates.

The Cane commissioners have reported ample supply of sugar and sugar cane for the time being, he said adding any reports to the contrary were fake news.

“Summary for import of 500k tonnes of sugar is being moved for upcoming ECC. Provisional estimates suggest local production of sugar will be higher than last season. But owing to low carry over stocks, TCP, in consultation with provinces, will be advised to initiate imports early….The provinces will be advised to release this sugar at retail stage at subsidised and control rates. Cane commissioners have reported ample supply of sugar and sugar cane for the time being. Any reports to the contrary are fake news,” the minister tweeted.