Islamabad: (RightNow) The federal government has postponed the immediate proposal to export sugar. A subcommittee led by Deputy Prime Minister Ishaq Dar decided to consider exporting surplus sugar near the next crushing season to prevent shortages and price hikes in the local market.

Details reveal that sugar mills claim a surplus of 1.3 million metric tons. The export could potentially generate $500 million in foreign exchange. Last year, after exports, sugar prices exceeded Rs 180 per kilogram.

Sources indicate that the federal government will approve the export of surplus sugar near the next crushing season. This decision aims to prevent market shortages and price increases. The government seeks to avoid importing sugar later to fulfill local stock needs.

Sources also suggest that without export approval, it will be challenging to offer better prices to farmers in the next season. Last year, after export approval, local market prices exceeded Rs 180 per kilogram.

It is noteworthy that sugar export approval was granted last year, leading to price increases. The government aims to be cautious this time to avoid impacting local consumers.