By Staff Reporter
ISLAMABAD: The cabinet’s Economic Coordination Committee (ECC) approved on Friday the export of 32,000 metric tons of sugar by mills in Sindh province within 60 days and a supplementary grant of Rs250 billion to increase the borrowing limit of the provinces for the current fiscal year.
The government had previously allowed the export of 250,000 tons of sugar with a quota distribution among the provinces based on their production. Punjab had 61 percent, Sindh 32 percent and Khyber Pakhtunkhwa 7 percent.
However, a legal dispute in Sindh delayed the allocation of its quota of 80,000 tons to 32 sugar mills. The Sindh High Court recently permitted the export of 48,000 tons by the mills and the remaining 32,000 metric tons by the end of July.
The ECC also approved the export of 2,861 tons by some mills that had received payments but missed the deadline, according to a statement.
Finance Minister Ishaq Dar chaired the ECC meeting.
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