Follow Us on Google News
ISLAMABAD: The Economic Coordination Committee (ECC) has approved a ban on the export of sugar to bring stability to prices in the local market.
Caretaker Finance Minister Dr Shamshad Akhtar chaired a meeting of the committee when the ban was approved after reviewing the ongoing situation in the country.
The summary seeking a ban on the export of sugar was sent by the Ministry of National Food Security.
The development comes as Pakistan saw a massive increase in sugar prices. The southern port city of Karachi registered a Rs23 per kilogram increase only in August as the wholesale rate has surged to Rs157/kg.
In Quetta, the sugar price went up by Rs10 per kg while the commodity is being sold for Rs160/kg in Lahore.
The South Asian country has been facing protests for the last four days over exorbitant electricity bills. People have taken to the streets in Peshawar, Rawalpindi, Karachi, Hyderabad, Gujranwala, and other cities of the country where they torched their bills in protest.
They are demanding an immediate reversal of the latest increase in electricity prices and the withdrawal of additional taxes.