Quantcast
Monday , December 11 2017
Breaking News
Home / Business / ECC allows sugar export, but defers decisions on CPEC and circular debt
ECC allows sugar export, but defers decisions on CPEC and circular debt

ECC allows sugar export, but defers decisions on CPEC and circular debt

ISLAMABAD: The government allowed on Tuesday export of an additional 300,000 tons of sugar but again put off decisions on crucial matters like fate of the Rs47-billion circular debt and tax exemptions for a China-Pakistan Economic Corridor (CPEC) project.

The Economic Coordination Committee (ECC) of the Cabinet approved the export of 300,000 tons of sugar, in addition to the export quantity already approved, according to an official handout of the finance ministry.

It added that the decision was taken keeping in view the recommendations of the Inter-Ministerial Committee (IMC) constituted by the prime minister and the Sugar Advisory Board.

The IMC, however, had proposed to allow the export of 600,000 tons on the basis that the country had 1.475 million metric tons surplus stock from the last sugarcane crushing season.