RAWALPINDI: The Economic Co-ordination Committee of the Presidential Cabinet today [Feb 16] decided to permit import of sugar on bonus and directed the Trade Corporation of Pakistan to take immediate steps to import 20,000 tons of sugar as a first instalment. The decision was taken by the Committee at a meeting here after a review of the supply and price position of sugar in West Pakistan.

The meeting, presided over by the Central Finance Minister, Mr N.M. Uquaili, expressed concern over the rising trend of sugar prices and decided to take steps to increase sugar supply in the market in order to bring down prices.

With a view to prevent hoarding and facilitate regular release of stocks by the mills and traders credit curbs were applied recently. In addition arrangements have also been made to import sugar from East Pakistan through trade channels.

About 4,000 tons of sugar are already on way to West Pakistan and 16,000 tons more are expected to reach shortly.

As a further measure, the Committee decided to permit import of sugar on bonus and authorised the Trade Corporation of Pakistan to import it in instalments.

The Committee meeting was attended by the Foreign Minister, Syed Sharifuddin Pirzada, the Food and Works Minister, Mr Doha, the Commerce Minister, Nawabzada Abdul Ghafoor Khan and the Deputy Chairman of the Planning Commission, Mr M.M. Ahmad.

Published in Dawn, February 17th, 2018