The government has approved the import of 85,000 metric tons of sugar to meet domestic demand and stabilize local sugar prices. According to a statement issued by the Federal Ministry of Food Security on Friday.
Letters of Credit (LCs) have been arranged through the State Oil Company of Azerbaijan (SOCAR) for the import of the sugar consignment.
All LCs have been formally opened and processed through the relevant banks, and the shipment will be delivered to Pakistan in phases under the trade agreement with SOCAR.
The first consignment is expected to arrive at the port within the coming weeks.
The government aims to boost domestic sugar reserves and prevent any potential shortages or unusual price fluctuations.
Under this initiative, the imported sugar will be made available to the public at concessional rates in the open market.
The import of 85,000 metric tons of sugar will maintain continuity of supply in the market.
It will be ensured that the imported sugar meets the international quality requirements and reaches Pakistan within the stipulated time.
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