Pakistan moves to deregulate sugar sector, fulfills IMF condition: Sources

ISLAMABAD: The federal government has fulfilled another condition set by the International Monetary Fund (IMF) by deciding to deregulate the sugar sector, sources said.

According to officials, a draft policy for sugar sector deregulation has been prepared. The draft will be presented to the federal cabinet for approval in the coming days.

The proposal suggests removing the requirement of provincial government permission for setting up new sugar mills. It also includes a plan to allow sugar mills to import raw sugar, which could help improve supply when needed.

However, officials clarified that import of raw sugar will not be allowed during the crushing season. This step is aimed at protecting local farmers and the domestic sugar industry.

Sources further said that there is a proposal to abolish the Sugar Advisory Board and make necessary amendments to existing laws to fully implement deregulation.

Pakistan has also assured the IMF that the sugar sector will be deregulated as part of its economic reform commitments.

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