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Import of 600,000 metric tons of sugar allowed

Import of 600,000 metric tons of sugar allowed July 29, 2021 ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday decided to merge a summary tabled by the Ministry of Industries and Production for allowing import of 100,000 metric tons of sugar after knowing that the federal cabinet had approved the import of 600,000 metric tons of sugar in order to build up strategic reserves. Top officials told The News in the background discussions after the ECC meeting that the forum had earlier approved import of 200,000 metric tons of sugar but when this issue came under discussion in the federal cabinet this week, it was decided to add 300,000 to 400,000 metric tons more to it so that a total of 600,000 metric tons of sugar would be imported in totality in order to build up strategic reserves in the domestic market.

ECC allows import of 600,000 metric tons of sugar

ECC allows import of 600,000 metric tons of sugar July 29, 2021 ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet on Wednesday decided to merge a summary tabled by the Ministry of Industries and Production for allowing import of 100,000 metric tons of sugar after knowing that the federal cabinet had approved the import of 600,000 metric tons of sugar in order to build up strategic reserves. Top officials told The News in the background discussions after the ECC meeting that the forum had earlier approved import of 200,000 metric tons of sugar but when this issue came under discussion in the federal cabinet this week, it was decided to add 300,000 to 400,000 metric tons more to it so that a total of 600,000 metric tons of sugar would be imported in totality in order to build up strategic reserves in the domestic market.

Sales tax on ex-mill price of sugar - Newspaper

LAHORE: The federal cabinet has decided to levy sales tax on the ex-mill price of sugar apparently in a bid to curtail the increase in retail price of the sweetener. The sales tax on sugar was already at its ex-mill rate. But in the budget for the year 2021-22, it was taken down to retail level. A member of the Pakistan Sugar Mills Association (PSMA) said the change in the levy of the sales tax from ex-mill to retail level led to a hike in the price of the commodity by around Rs0.85 to Rs1.0 per kg. Tuesday’s federal cabinet decision will only reverse this situation.

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