Circulars/Notifications - Exchange Policy Department  
EPD Circular Letter No. 08 /EPP.1 (51)-Sugar - 2012

October 19, 2012


The Head/ Principal Offices of all
Authorized Dealers in Foreign Exchange


Dear Sirs/Madam,

REVIEW /UPDATE ON SUGAR SITUATION-SUGAR EXPORT

Attention of Authorized Dealers is invited to Ministry of Commerce’s Public Notice No. 7(2)/2012-E-III dated  October 12, 2012 on the captioned subject in terms of which Government of Pakistan has allowed export of sugar on the following terms & conditions as mentioned in the said Public Notice. Copy of the Public Notice is enclosed for information and guidance of Authorized Dealers:-

  1. 200,000 tons of sugar will be exported.
  2. A quantity not in excess of 10,000/- tons shall be allowed to be exported by individual sugar mills on first come first served basis.
  3. The export shall be made only against E-Form.
  4. The State Bank of Pakistan will monitor the export and no E-Form shall be issued in excess of individual and cumulative ceiling mentioned above.

Accordingly, the Authorized Dealers are advised to process the cases as per following mechanism:-

  1. Banks will forward the requests of Sugar Mills alongwith photocopy of E-Form, copy of contract, L/C, advance payment, etc. for approval of SBP. While forwarding such requests banks should also maintain the record of each Sugar Mill to ensure compliance of maximum prescribed quota of 10,000 tons per Sugar Mill. 
  2. All requests should be addressed to the Director, Exchange Policy Department, State Bank of Pakistan, I.I. Chundrigar Road, Karachi.
  3. SBP will allow permission against each E-Form on first come first served basis.
  4. Bank will send sugar export update to the Director, Exchange Policy Department State Bank of Pakistan, I.I. Chundrigar Road, Karachi on daily basis.
  5. Incomplete requests will not be considered.
Authorized Dealers are advised to bring the same to the notice of all their constituents.

Encl: 01

Yours faithfully,

sd/-

(Moinuddin)
Additional Director

       
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