Pakistan, July 15 -- ISLAMABAD - The government of Pakistan has cancelled a major sugar import tender after the International Monetary Fund (IMF) rejected a proposed tax exemption on imported sugar. Initially, the Trading Corporation of Pakistan (TCP) had issued a tender for the import of 300,000 metric tons of sugar, which has now been withdrawn.

Instead, TCP has floated a revised tender to import 50,000 metric tons of sugar. Bids from international suppliers have been invited, with a submission deadline of July 22. This decision marks a significant shift in Pakistan's sugar import strategy following IMF pressure.

Earlier, the government had announced its plan to import 500,000 tons of sugar and had waived all duties and taxes to facil...