PM allows export of surplus sugar | Business

 Prime Minister Shahid Khaqan Abbasi on Tuesday allowed the export of 1.5 million metric tons of sugar. Photo: Geo News file

ISLAMABAD: Prime Minister Shahid Khaqan Abbasi on Tuesday allowed the export of 1.5 million metric tons of sugar.

Abbasi, chairing a meeting of the Economic Coordination Committee of the Cabinet (ECC), made the decision in view of the commodity’s surplus availability.

The ECC allowed the export of sugar after taking into account the recommendations of the recent Council of Common Interests (CCI) meeting, a press release issued by the premier’s media office said.

The committee also permitted the procurement of goods and services as per the provisions of the Framework Arrangement and Export-Import Bank of Korea Guidelines.

In order to discourage fuel adulteration and tax evasion, the ECC has allowed the addition of Fuel Marker in Superior Kerosene Oil (SKO).

The determination and notification of UCH-II Gas Price, as agreed under Gas Pricing Agreement (GPA) by Oil & Gas Regulatory Authority under the OGRA Ordinance, 2002, was also approved at the meeting.

The ECC also accorded its approval for making necessary amendments in the ECC approved Supplemental Agreement to Implementation Agreement (SAIA) for China Pakistan Economic Corridor (CPEC) projects.

According to the press release issued by the prime minister’s media office, the committee acceded to a proposal for levying of regulatory duty on import of Liquefied Petroleum Gas (LPG), in order to

maintain parity with the local production and allowed the disposal of 500,000 tons of surplus wheat of PASSCO through the local sale.

News Reporter

Leave a Reply

Your email address will not be published. Required fields are marked *