The federal authorities has determined to retract its resolution to import 6,00,000 tons of sugar, claiming it is going to be costlier than the domestically produced sugar, ARY Information reported.
In accordance or Ministry of Commerce sources, the federal government has determined to not import sugar from otehr international locations and fulfil necessities from regionally produced sugar. The choice has been made to reduce the commerce deficit of the nation.
Commerce ministry sources mentioned that imoported sugar would coast round Rs110 per kg whereas regionally produced sugar prices Rs90 per kg. The cournty has suplus reserves of sugar, the soruces say.
There are sufficinet resrves of sugar, oil and flour within the nation, the commerce ministry mentioned. The import invoice for meals gadgets has gone as much as Rs29 billion.
Earlier on April 15, the federal authorities has introduced to ban the export of sugar, saying the ban would drop sugar costs and supply aid to the individuals, ARY Information reported.
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Based on particulars, the choice was made within the session chaired by Prime Minister Shahbaz Shareef. The federal government claims that the export ban would reduce the costs and supply aid to the individuals.