Islamabad: The Economic Coordination Committee (ECC) has approved an additional export of 500,000 metric tonnes of surplus sugar. This decision came during a meeting chaired by the Minister for Finance Muhammad Aurangzeb, with stipulations for production commencement and a monitoring framework to oversee market conditions.

According to Ministry of Information and Broadcasting, the ECC’s decision aims to leverage the surplus by allowing exports, provided that the Pakistan Sugar Mills Association guarantees that production for the next crop year will begin by the 21st of the following month. Non-compliance by any mill will result in the revocation of their export quota. Furthermore, the exporters are required to ship their consignments within ninety days from the allocation of the quota.

The committee also tasked the Cabinet Committee on Monitoring Sugar Exports with the ongoing assessment of the sugar demand, supply, and pricing dynamics within the country, and to keep the Cabinet updated. Additionally, the ECC approved a compensation package for the families of the deceased Chinese employees of Port Qasim Electric Power Company (Private) Limited.