US EditionDuties on Sugar Import Waived
PAKISTAN, JUL 8 – The federal cabinet’s 500,000-tonne sugar import aims to stabilize soaring prices after exports of 765,734 tonnes increased revenue by Rs114 billion this fiscal year.
- On Tuesday, the federal cabinet approved importing 500,000 metric tons of sugar through the government sector to stabilize domestic prices.
- This decision followed a supply shortage caused by earlier sugar exports amid ample supply and disruptions linked to low production due to climate change.
- Authorities responsible for national food policies have confirmed that preparations for the sugar import are complete and steps to initiate the process are being implemented immediately.
- Sugar prices rose sharply from Rs138 per kg before exports to Rs190-200 per kg in major cities like Karachi, Lahore, and Quetta, impacting household food costs.
- The government waived all duties and taxes on sugar imports and emphasized a coordinated policy to ensure price stability and protect consumers from inflationary pressures.
17 Articles
17 Articles
Philippines clears more sugar imports to stabilize prices
MANILA, Philippines — The Sugar Regulatory Administration (SRA) has authorized the importation of 424,000 metric tons (MT) of sugar to ensure stable supply despite the country having a relatively stable buffer and prices as of June. “The intention of this sugar import program is to ensure that the country will continue to have sufficient actual supply of sugar for domestic consumption and for buffer stock,” the SRA said in Sugar Order No. 8 gove…
Duties on sugar import waived
The federal cabinet has approved the import of 500,000 metric tons of sugar, waiving 53% in import taxes to offset the negative impact of its earlier decision to allow sugar exports despite objections from the finance ministry. The cabinet waived all the duties and taxes on the import of sugar, which has also made the Ministry of Finance jittery, according to the Finance Ministry sources. The decision to waive taxes by overruling the finance Min…
Govt approves sugar import of upto 500,000 tonnes to maintain ‘affordable prices’
The federal government on Tuesday approved the import of half a million tonnes of sugar in a bid to maintain affordable prices of the commodity. A day earlier, Deputy Prime Minister and Foreign Minister Ishaq Dar had emphasised the need for a coordinated policy approach to ensure market stability for essential commodities and food items. He chaired a committee meeting today to assess the sugar situation in the country and evaluate import require…
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