The government of Pakistan has decided to export 108,000 tonnes of sugar.
Pakistan’s Economic Coordination Committee (ECC) of the Cabinet has approved an international tender for the export of 108,000 metric tonnes of sugar held by the Trading Corporation of Pakistan (TCP).
The decision was taken at a meeting of the ECC chaired by Finance Minister Muhammad Aurangzeb at the Finance Division in Islamabad on Wednesday.
The sugar is part of 300,000 tonnes imported by the government last year following a recommendation from the Steering Committee on Sugar, which was formed with the approval of the federal cabinet.
The Ministry of National Food Security and Research had requested permission to invite international bids for the export of the remaining 108,000 tonnes currently held by the TCP.
The tender will be conducted under Pakistan’s Public Procurement Regulatory Authority (PPRA) Rules 2004, according to officials.
The government’s decision comes as it manages stocks acquired through last year’s sugar imports and seeks to determine how the remaining inventory should be handled.
The ECC meeting was attended by Federal Minister for National Food Security and Research Rana Tanveer Hussain, Federal Minister for Investment Qaiser Ahmed Sheikh, Prime Minister’s Adviser on Industries and Production Haroon Akhtar Khan, as well as federal secretaries and senior officials from relevant ministries and divisions.
The international tender is expected to allow eligible buyers to bid for the government-held sugar, with the process subject to the applicable procurement rules.
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