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 authorized bringing in half a million tons of sugar to help control local prices amid inflation and supply challenges.
- This decision followed a recent spike in sugar prices from Rs138 to Rs196 per kilogram and earlier exports totaling 765,734 metric tons last fiscal year.
- The Sugar Advisory Board, led by Minister Rana Tanveer Hussain, endorsed the imports while waiving all duties and taxes to offset negative impacts from prior exports.
- A spokesperson described this as a “calibrated intervention based on actual need,” and Dar emphasized the commitment to “price stability and safeguarding consumer interests.”
- The import aims to ensure stable supply and affordable prices, signaling a policy shift from previous subsidies and export-led shortages, though the timing raises questions among analysts.
16 Articles
16 Articles
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…
Coverage Details
Bias Distribution
- 75% of the sources lean Right
To view factuality data please Upgrade to Premium
