Federal Minister for Finance Muhammad Aurangzeb has clarified that sugar is not being smuggled to Afghanistan but is being legally exported.

Addressing a press conference in Islamabad, the finance minister said the Federal Board of Revenue (FBR) has developed a monitoring mechanism to regulate the sugar industry.

He stated that since the introduction of the system, six sugar mills have been sealed, and significant penalties have been imposed.

According to Aurangzeb, Rs24 billion in sales tax has been collected from sugar mills this year.

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So far, six mills have been shut down, and fines amounting to Rs125 million have been imposed. The country’s sugar production for this year stands at 5.7 million tonnes.

The minister also highlighted a surge in remittances, reporting that overseas Pakistanis sent $3.1 billion in February.

He noted that the stock market witnessed seven IPOs last year and assured that structural improvements would lead to further economic growth in 2025.

He further stated that efforts are underway to achieve sustainable development goals, while the trade deficit has seen a significant reduction.