Meeting of joint cabinet bodies on sugar convened today

ISLAMABAD: A joint meeting of the Cabinet Committee on Monitoring Sugar Export and Sugar Advisory Board has been convened today (Thursday) to consider the suspension of sugar exports in view of an increase in sugar prices.

According to sources, the retail price of sugar per kg has increased by Rs2.56 from the fixed benchmark due to which the cabinet committee has given an indication to suspend the export of sugar. It is possible that Pakistan Sugar Mills Association (PSMA) has been asked for an explanation on the increase in sugar prices.

It has been brought to the notice of the cabinet committee that the retail price per kg of sugar has increased from the benchmark fixed by the ECC.

The ECC had fixed the retail price of sugar per kg as a cabinet mark of Rs145.15, while the retail price of sugar per kg in the market has reached Rs147.71.

The federal cabinet had decided that the export will be stopped immediately if the price of sugar increases. The federal cabinet had established a cabinet committee for monitoring sugar export headed by the Federal Minister for Petroleum Dr. Musadik Malik.

The federal cabinet had decided that the export would be stopped immediately if the price of sugar increases.