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Mills allowed to import 350,000 metric tons raw sugar, National Assembly body told.
Byline: ZAHEER ABBASI
The government has allowed sugar mills to import 3,50,000 metric tons raw sugar for the next season and also decided to change the criteria of purchasing sugar from the local industry after the mills refused to release the stocks to Trading Corporation of Pakistan (TCP) during the recent crisis.
Secretary Ministry of Commerce Salman Ghani told National Assembly's Standing Committee on Commerce that as per new criteria the mill owners would have to pay not the contract price but the actual price of sugar prevailing in the market at the time of violation of contract as well as 25 percent penalty.
Salman informed the committee that the …
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