Islamabad: The Economic Coordination Committee (ECC) of the Cabinet has given its approval for prohibiting the export of sugar.
Chaired by the Caretaker Finance Minister, Dr. Shamshad Akhtar, the meeting of the Economic Coordination Committee of the Cabinet resulted in the endorsement of the ban on sugar exports.
During the session, the Ministry of National Food Security and Research presented a summary concerning the export ban on sugar, as well as the annulment of the sugar export quota. The committee received a comprehensive overview of sugar production, current stock levels, consumption rates, and the escalating sugar prices in the market, along with its potential impact on inflation.
Additionally, the ECC instructed the Ministry of National Food Security and Research to create and submit regular reports about the availability of sugar stocks, consumption trends, and pricing to the ECC.
Furthermore, the committee directed the Ministry of National Food Security and Research to collaborate with all pertinent agencies and authorities to curb sugar smuggling and the hoarding of sugar.
