Pakistan bans sugar export after prices go up. The Economic Coordination Committee (ECC) has recommended a ban on sugar exports in order to stabilise prices in the domestic market.
Caretaker Finance Minister Dr Shamshad Akhtar presided over a committee meeting when the prohibition was authorised after a review of the country’s present situation.
The Ministry of National Food Security sent the summary requesting a ban on sugar exports.
The news comes as sugar prices in Pakistan have skyrocketed. Only in August did the southern port city of Karachi see a Rs23 per kilogramme spike, with the wholesale prices reaching Rs157/kg.
Also read: Don’t use sugar substitutes for weight loss: WHO
As Pakistan bans sugar export after prices go up, Sugar prices in Quetta increased by Rs10 per kg, while the item is offered for Rs160/kg in Lahore.
For the past four days, the South Asian country has been rocked by protests over excessive electricity bills.
People protested by torching their bills in Peshawar, Rawalpindi, Karachi, Hyderabad, Gujranwala, and other cities across the country.
They are demanding that the latest increase in electricity costs be reversed immediately, as well as the removal of other taxes.
The Economic Coordination Committee (ECC) is a primary federal entity and consultative forum chaired by Pakistan’s people-elected Prime Minister for problems involving the state’s economic security, geoeconomic, political economic, and financial endowment.
Although it is frequently chaired by the Finance Minister and senior economic officials as its members, the main executive authorisation on major economic policies is made by Pakistan’s Prime Minister, who reserves the power to call on and acts as the chairman of the ECC.
