ECC approves Rs20b for Operation Azm-e-Istehkam, permits sugar export
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The Economic Coordination Committee (ECC), chaired by Finance Minister Muhammad Aurangzeb, has approved the allocation of Rs 20 billion for Operation Resolute Stability, according to the Ministry of Finance.
During the meeting, the ECC also granted conditional approval for the export of 100,000 metric tons of sugar, extending the export period from 45 to 60 days.
The export of sugar to Afghanistan has been permitted on the condition of receiving advance payment. Additionally, the Letter of Credit (LC) period for sugar export has been extended to 60 days.
The ECC abolished the retail price benchmark in the local market for sugar exports and outlined terms for action against mills that fail to disburse payments to sugarcane farmers. The Sugar Advisory Board has been instructed to monitor sugar prices closely.
Various supplementary grants were also sanctioned during the meeting, according to the Ministry of Finance.