ECC approves sugar export to Iran

ISLAMABAD: The government on Tuesday allowed sugar export to Iran against electricity import.It also allowed continued higher margins to Oil Marketing Companies (OMCs) and petroleum dealers and put an immediate ban on import of gold and export of live animals.

The decisions were taken at a meeting of the Economic Coordination Committee (ECC) of the Cabinet, presided over by Finance Minister Ishaq Dar that also decided to strictly go by the procurement rules in import of Liquefied Natural Gas (LNG) to ensure transparency instead of seeking exemptions.




The ECC also decided to put a ban on export of live animals with effect from Oct 1, 2013 (just before Eidul Azha) to encourage export of processed meat and provide by-products, such as hides, bones, blood and tallow to many downstream industries.

The ECC also approved export of 30,000 tons of wheat to Iran as part of a barter trade agreement with Iran against electricity imports.

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