NA committee grills govt on sugar policy

A parliamentary committee on Wednesday questioned why the government was focusing on sugar prices despite having deregulated wheat prices, as the finance ministry confirmed ongoing discussions with the International Monetary Fund for an import rebate. A meeting of the National Assembly’s Standing Committee on Finance and Revenue, presided over by Syed Naveed Qamar, expressed concern over tax exemptions on the import of sugar. Federal Board of Revenue (FBR) Chairman Rashid Mehmood Langrial informed the committee that sugar imports were subject to a total of 54 per cent tax, resulting in higher retail prices of the commodity. He said the FBR had granted tax exemptions on sugar imports after receiving the federal cabinet’s decision in this regard.