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Government take Decision to import cotton and sugar from India, Says Officials Exclusive

Monday, May 3, 2021

(mnm.com.pk) Pakistan's Economic Coordination Committee has decided to import sugar, cotton and yarn from India.


image source: Online


The first meeting of the Economic Co-ordination Committee, chaired by new Finance Minister Hamad Azhar, was held on Wednesday, March 3, in which important decisions were taken.


The ECC decided to open imports of sugar and cotton from India. 500,000 metric tonnes of sugar can be imported from India, while cotton will be imported by the end of June.


Besides, Rs 2 billion was also sanctioned for construction of low cost houses under the Prime Minister's Housing Scheme. The meeting also approved supplementary grants for various departments.



Addressing a press conference in Islamabad, new Finance Minister Hamad Azhar announced a reduction of Rs 1.5 per liter in petrol and Rs 3 per liter in diesel. He said that the decline was likely due to an increase in the prices of petroleum products in the international market.


Federal Finance Minister Hamad Azhar said that petrol and diesel prices have been reduced after consultation with the Prime Minister. The recent reduction in petroleum products will take effect from 12 noon tonight.


He further said that the price of wheat has been fixed at Rs. 150. 1800 The current government has increased its foreign exchange reserves by 9 billion while making more money from the current account and the primary account.


The Federal Minister said that sugar in Pakistan is 15 to 20 percent cheaper.


At present, petrol is levied at Rs 11.23 per liter and diesel at Rs 12.74 per liter. OGRA had proposed a reduction of Rs 1.5 per liter in petrol and Rs 2.6 per liter in diesel.