Islamabad, March 25, 2016 (PPI-OT):Third monthly meeting of the Inter-Ministerial Committee headed by the Minister for Commerce, Engr. Khurram Dastagir Khan was held on 25th March, 2016 in Committee room of the Ministry of Commerce. The committee reviewed the position of sugar exports, available stocks and price trend in domestic market.
The Economic Coordination Committee of the Cabinet while allowing export of surplus stock of sugar in December 2015 had tasked an inter-ministerial committee on sugar, constituted by the Prime Minister to review sugar stock/export situation every month. Secretaries of Ministries of Commerce, National Food Security and Research and representatives of Ministries of Industries and Production, and Finance attended the meeting.
The meeting was informed that the price of sugar in the domestic market remained stable over the last month. The national average retail price of sugar, as reported in the Sensitive Price Index, was Rs. 62.51 during the week ending on 17th March 2016. Moreover, it was informed that 198,387 MT of sugar has been exported since the ECC granted permission to export sugar.
The representative of Ministry of Industries informed that stock of 3.55 million metric tons of sugar is currently available in the country which would be sufficient for the domestic consumption till 30th November 2016. Therefore, the availability position of sugar stocks during Ramadan and beyond was satisfactory. Commerce Minister emphasized that while encouraging exports of the country, the interests of all stakeholders including farmers and consumers must be safeguarded.
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