ECC allows releasing Rs2bn outstanding claims to sugar mill owners

Islamabad : Economic Coordination Committee (ECC) of the Cabinet has directed the Finance Division to release the outstanding claims, worth Rs2 billion, to sugar mills owners.

The ECC meeting was held on Tuesday under the chairmanship of Finance Minister Asad Umar. The committee on the occasion took up the sugar export issue on a proposal moved by the Ministry of Commerce.

With regard to the outstanding claims of previous years, the committee directed the Finance Division to release the budgeted amounts.

Sources said that Pakistan Sugar Mills Association (PSMA) had claimed the outstanding payment to the tune of Rs16 billion, whereas the Ministry of Industry and Commerce gave an approval to release only Rs2 billion.