Date : 31/07/2013
ISLAMABAD, July 31 (KUNA) -- The government of Pakistan has decided during
a meeting for the Economic Coordination Committee (ECC) to allow exporting
sugar to Iran in return to electricity imports.
Finance Minister Ishaq Dar chaired the meeting of EC and approved the
export of sugar to Iran against the import of electricity to overcome the
energy crisis. The ECC approved export of 30,000 tons of wheat as well to Iran
as part of a barter trade agreement with Iran.
Iran has been facing economic problems due to the sanctions imposed on the
import of oil by the United States. Pakistan has been facing immense energy
crisis and thus the deal with Iran is part of Islamabad's policy to tackle the
problem.
Sugar mills in Pakistan have asked the government to allow the export of an
additional 500,000 tons as a bumper sugarcane harvest this year led to an
exportable surplus of sugar. The former chairman of the Pakistan Sugar Mills
Association (PSMA), Iskander Khan asked that the government to immediately
allow export of another 500,000 tons of sugar as the country's stock was
higher than the local demand. (end)
sbk.gta
KUNA 311209 Jul 13NNNN