Government of Pakistan has officially opened Letters of Credit (LCs) to get the 85,000 metric tons of sugar imported under the government-to-government Sugar agreement.
By this strategic step, the government aims to balance domestic sugar shortages and price instability.
The official sources have mentioned that, LCs have been communicated to banks, allowing the shipments of imported sugar in phases. The first consignment is likely to arrive at Pakistani ports within the next few weeks.
By this major initiative sugar supply continuity will not be stopped in local markets, further price hikes will be balanced.
Officials have assured that the imported sugar is of international quality standards and will be delivered within the specified timeframe.
