ISLAMABAD: The federal government has established Letters of Credit (LCs) through SOCAR for the import of 85,000 metric tons of sugar to meet domestic demand and stabilize prices.
According to official sources, all LCs have been formally opened and transmitted through relevant banks. Under the trade agreement signed with SOCAR, the sugar will be supplied to Pakistan in phases, with the first consignment expected to reach local ports within the coming weeks.
The government has taken this step to strengthen national sugar reserves, avert potential shortages, and prevent unusual fluctuations in prices.
As part of the plan, imported sugar will be made available to the public in the open market at subsidized rates, ensuring a consistent supply chain. Authorities have also assured that the imported sugar will comply with international quality standards and reach Pakistan within the stipulated timeframe.
