India to honour Pak L/Cs on sugar trade opened till March 7

Our Commodities Bureau

New Delhi, April 26 : THOUGH Pakistan has banned import of sugar from India, letters of credit opened till March 7, 2001 will be honoured, Rajya Sabha was informed on Thursday.

Pakistan had imposed the ban reportedly in view of the availability of adequate stock and price stability of sugar in that country, Minister of State for Consumer Affairs, Food and Public Distribution V Sreenivasa Prasad said in a written reply.

Food stock: As on March 1, 2001 there was 46.75 million tonne of foodgrain available in the Central Pool, Minister of State Sriram Chauhan said in reply to another question.

The FCI had a storage capacity of 31.09 million tonne asagainst a stock of 28.94 million tonne of foodgrains held by them as on March one, 2001, with the balance stock being held by state governments and agencies on behalf of FCI. Export: Wheat is made available by FCI for export through PSU and agencies including STC, MMTC, PEC, NCCF, NAFED and Markfed at prices now lower than the Centra Issue Prices for the Below-Poverty category (Rs 4,150 per mt at present), Mr Chauhan informed the Upper House. (PTI)