Islamabad, While sugar prices have been on the rise in the domestic market for the past couple of months, Pakistan Prime Minister Imran Khan has approved a ban on sugar export.
Khan gave the go-ahead on Friday months after the country had exported 141,447 metric tonnes of sugar, reports Dawn news.
While approving the summary, the premier also decided that white sugar would be imported through the private sector without taxes and duties and no financial support would be provided to the importers by federal or provincial governments.
The decision will be implemented after its approval from the Economic Coordination Committee (ECC), which is the competent forum, which is likely to meet on Saturday or Monday.
After an ECC decision on the issue, the federal cabinet will give a formal approval in its meeting on Tuesday.
Between July and December 2019, Pakistan had exported 141,447 metric tonnes of sugar, according to official statistics.
The average retail price of per kilogram of sugar was 53.75 Pakistani rupees in 2017-18, 61.43 in 2016-17, 64.03 in 2015-16 and 58.91 in 2014-15, respectively.