ECC approval to export 40 thousand metric tons of sugar

The Economic Coordination Committee (ECC) of the Cabinet approved the export of 40,000 metric tons of sugar to Tajikistan in addition to the export of another 100,000 tons from local surplus stocks till January next year.

According to the statement issued by the Ministry of Finance, the meeting of the Economic Coordination Committee of the Cabinet was chaired by the Minister of Finance and Revenue Muhammad Aurangzeb, where he informed the Economic Coordination Committee about the situation of the country’s economy, economic stability and significant improvement in economic indicators.

Federal Finance Minister Muhammad Aurangzeb said that the value of the rupee is stable and foreign exchange reserves have reached a 26-month high, reflecting the strength and continuity of remittances.

He said that with the prayers of the nation and the efforts of Prime Minister Shehbaz Sharif in collaboration with bilateral partners, local teams, administrative and domestic institutions, there will be good augury regarding the IMF loan on September 25.

He said that after getting loan from IMF we will not give up the path of macroeconomic stability.

Decision to review sugar prices on daily basis

The Finance Minister said that Pakistan’s IT exports have now stabilized at the level of $300 million per month which is good news for our export sector.

He said that 165 million dollars have been invested in this regard last month, inflation has significantly reduced to the single digit level and it is expected to decrease further in September.