The State Bank of Pakistan (SBP) has withdrawn the cut-off date for the receipt of applications for sugar export and asked authorised dealers to receive applicaations till quota utilisation This step has been taken on the request of sugar exporters, as they have still not utilised their complete quota allowed by the Economic Co-ordination Committee of the cabinet. In response of Pakistan Sugar Mills Association request, ECC allowed export of 200,000 tons of sugar to ease their financial issues.
According to SBP EPD Circular Letter No06 /EPP.1 (51)-Sugar – 2012, now exporters can submit their application for export till the utilisation of complete quantity allocated by ECC. On June 14 this year, SBP allowed sugar export and July 23 was fixed as the last date for receipt of sugar export applications.
Sugar Mills may submit their requests for export of sugar in accordance with the prescribed procedure and allocated quota as circulated vide FE Circular ibid till utilisation of allocated 200,000 tons of sugar quota. Other terms & condition of the above mentioned FE Circular Letter will remain unchanged. SBP has advised all authorised dealers to bring the same to the notice of all their constituents.
Copyright Business Recorder, 2012