Pakistan to Export Large Sugar Surplus

Pakistan plans to export 500,000 metric tons of surplus sugar this year, according to a statement by its finance ministry. The Economic Coordination Council made the decision to capitalize on the excess production, which is expected to boost the nation's trade revenue.

Pakistan is set to export 500,000 metric tons of surplus sugar this fiscal year, according to a statement released by the country's finance ministry on Friday. This decision marks a strategic move to leverage excess sugar production.

The announcement came following a meeting of the Economic Coordination Council, which plays a pivotal role in the financial decision-making process of the nation. Their approval highlights confidence in this year's sugar output levels, which are significantly higher than domestic consumption needs.

By exporting this surplus, Pakistan aims to improve its trade balance and add vital revenue streams to its economy. The export initiative is also expected to enhance the country's presence in the international sugar market, potentially attracting new buyers in the future.

(With inputs from agencies.)