Govt decides to import 50,000 tonnes of sugar

After the decrease in sugar prices in the international market the government is planning to import 50,000 tonnes of the sugar to maintain its price within the official retail rate.

Minister for Finance, Revenue and Industries Hammad Azhar on Monday took the proposal under discussion in the meeting of the National Price Monitoring Committee (NPMC) led by himself.

While the decision to import sugar from India through the land route was reversed by the federal cabinet last week. The import of sugar through the land route costs less than through sea.

The ministry of industries will float the tender, but it depends on the quotation of price. Earlier tenders were cancelled because higher prices were quoted.