The Economic Coordination Committee of the federal cabinet on Monday decided to impose a ban on sugar exports. Caretaker Finance Minister Shamshad Akhtar chaired the session of the Economic Coordination Committee.
The committee decided to ban sugar exports. Prior to this decision, the ECC approved the summary to export 32,000 metric tonnes of sugar in June.
The decision was taken in view of rising prices of sugar in the country. Sugar prices spiked to a record high of up to Rs170 per kg in retail markets of Balochistan last week.
The sugar that was earlier being sold at Rs145 suddenly recorded a Rs25 per kg rise in Balochistan. According to dealers, the price of the commodity increased after the supply of sugar got suspended as vehicles got stuck on the national highways after the suspension of permits.