Business
Millers “seek” permission to export one million tons of sugar.
According to officials, the ministry has already received comprehensive sugar stock numbers for examination. According to industry insiders, exporting excess inventory might result in foreign exchange profits of over $1 billion.
However, the sugar sector has cautioned that mills may suffer financial losses due to surplus stock levels if exports are prohibited.
Before any export license is given, sugar mill owners would have to ensure that domestic prices would not rise, according to ministry sources. They stated that without such guarantees, the government would not allow exports.
Additionally, officials recalled that the clearance to export 700,000 tonnes of sugar last year led to an increase in domestic prices; at the time, sugar was allegedly selling for between Rs120 and Rs200 per kilogram.
In a previous announcement, the Pakistani government restored an 18% sales tax on imported sugar.
The concession was first implemented in August 2025 with the goal of increasing the availability of domestic sugar. The sales tax on imported sugar was lowered from 18% to 0.25% at the time.
According to the announcement, only sugar imported by the Trading Corporation of Pakistan (TCP) under a government-approved plan to import 500,000 tonnes of the commodity was eligible for tax reduction.
Petroleum Minister Ali Pervaiz Malik said the government would analyse international price indicators for fuel and diesel this week to gauge possible assistance for consumers.
The administration is not favouring any particular sector and is not putting any unnecessary strain on any segment, the minister stated on X (previously Twitter).
The minister said the government will continue to operate within the confines of its international commitments and pass on greatest possible advantage to consumers.
Prime Minister Shehbaz Sharif has so far lowered the rates of fuel by Rs200 per litre and petrol by Rs155 per litre, Ali Pervaiz Malik remarked.
International pricing indications for petrol and diesel will be studied over the week before any further decision is taken, he said.
Officially enacting the federal budget for the fiscal year 2026-27, President Asif Ali Zardari gave his constitutional assent to the Finance Bill 2026 on Friday. This allowed the bill to become law.
The budget for the upcoming fiscal year, which will go into effect on July 1, 2026, is formalised with the assent of the president, as stipulated by Article 75 of the Constitution.
On the 12th of June, 2026, the Federal Minister for Finance and Revenue, Muhammad Aurangzeb, delivered a presentation to the National Assembly in that capacity.
By rejecting all of the modifications that were proposed by the opposition, the House of Representatives was able to pass the Finance Bill 2026 on June 23, following the debate that took place.
Pakistan for the first time sees record high imports of heavy vehicles; buses, trucks surge during current fiscal year
Imports of buses and trucks hit $262.4 million in the first 11 months of fiscal year 2025-26, the highest ever in the country’s history, data from the State Bank of Pakistan (SBP) showed.
The data showed that imports of buses and trucks during the same period of FY 2024-25 were at $57.8 million, showing a substantial increase year-on-year.
The State Bank data indicated that the majority of heavy transport imports were registered as completely built units (CBUs).
Analysts said the increase in transport imports was due to lower loan rates and government incentives that encouraged businesses and transport operators to expand their fleets by purchasing foreign cars.
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