Pakistan’s Economic Coordination Committee (ECC) is likely to approve a ‘bailout package’ for millers to help them export sugar. The package is expected to include a subsidy and a reduction in the rate of federal excise duty (FED) imposed on sugar mills as incentives to export the sweetener. In its proposal, the commerce ministry has asked that the rate of FED on sugar mills be slashed from 8% to 0.5% to incentivize sugar export. The ECC had earlier approved the export of sugar, but farmers could not benefit from the decision due to delays in its implementation. Sikandar Khan, former… Login to continue

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