ISLAMABAD: Prime Minister Shahid Khaqan Abbasi on Tuesday allowed the export of 1.5 million metric tons of sugar.
PM Abbasi, chairing a meeting of the Economic Coordination Committee of the Cabinet (ECC), made the decision in view of the commodity’s surplus availability.
The ECC allowed the export of sugar based on recommendations of the recent Council of Common Interests (CCI) meeting, a press release issued by the PM Abbasi’s media office.
The committee also permitted the procurement of goods and services as per the provisions of the Framework Arrangement and Import-Export Bank of Korea’s Guidelines.
In order to discourage fuel contamination and tax evasion, the ECC has allowed the addition of Fuel Marker in Superior Kerosene Oil (SKO).
The determination and notification of UCH-II Gas Price was also approved at the meeting, as agreed under Gas Pricing Agreement (GPA) by Oil & Gas Regulatory Authority under the OGRA Ordinance, 2002.
The ECC also accorded its approval for making necessary amendments in the ECC approved Supplemental Agreement to Implementation Agreement (SAIA) for China Pakistan Economic Corridor (CPEC) projects.
According to the press released by the PM Abbasi’s office, the ECC acceded to a proposal for levying of regulatory duty on import of Liquefied Petroleum Gas (LPG), in order to maintain parity with the local production and allowed the disposal of 500,000 tons of surplus wheat of PASSCO through the local sale.