ECC approves export of 1 mln metric ton of surplus sugar


Islamabad, Oct 03 (TNS): Economic Coordination Committee (ECC) of the Cabinet has approved export of one million metric ton surplus sugar with direction that no freight or financial support will be provided to millers or exporters by the Federal or Provincial Governments.

The approval was given during the Committee’ meeting held in Islamabad with Finance Minister Asad Umar in the chair.

The Committee said only those sugar mills will be allowed to export sugar which have paid arrears to farmers for all the crops up to 2017-18.

The committee accorded approval for revision of cess rates of tobacco for the year 2018-19 as determined by the Pakistan Tobacco Board.

ECC directed immediate formation of special committee comprising to address various issues relating to transfer of shares of K-Electric.

The Committee also approved a Sovereign Guarantee to back the export of JF-17 Thunder Aircraft by Pakistan Aeronautical Complex Kamra.