ECC allows export of 5 lakh tonnes of sugar

Finance Minister Muhammad Aurangzeb, while presiding over the Economic Coordination Committee (ECC) meeting in Islamabad on Friday, allowed sugar mills owners to export 5 lakh tonnes of sugar, reported 24NewsHD TV channel.

According to Ministry of Finance, ECC was briefed that the country has abundant reserves of sugar. According to data, there is more than 2 million metric tons of sugar in the country till September 30, out of which more than 9 lakh tons of sugar is expected to be exported.

The Ministry of Finance said by November 1, there will be 1 million metric tons of sugar reserves in the country while sugar mills will be bound to start crushing season by November 21.  The ECC also approves compensation package for deceased Chinese engineers.

Reporter: Waqas Azeem