ECC Greenlights Expanded Sugar Export Policies and Security Funding

Islamabad: Chaired by Federal Minister for Finance and Revenue Muhammad Aurangzeb, today’s Economic Coordination Committee (ECC) meeting brought pivotal decisions, notably approving an expansion of sugar export quotas and substantial funding for security projects.

According to Ministry of Finance announcement issued on 22 August 2024, the ECC convened with multiple cabinet ministers, including the Minister for Industries and Production Rana Tanveer Hussain and other key officials, to deliberate on pressing economic matters. The committee endorsed the Ministry of Industries and Production’s proposal to export an additional 0.100 million metric tons of sugar, introducing more lenient terms to facilitate these exports, such as extending the export period and adjusting advance payment requirements.

Further economic measures included the approval of Technical Supplementary Grants totaling over Rs. 22 billion, aimed at enhancing internal security operations and supporting the ongoing Reko Diq Project through payments to Frontier Corps Balochistan.

The session underscored a commitment to regular market monitoring and the development of a comprehensive sugar policy to stabilize the sector and promote sustainable growth.

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