Attention of Authorized Dealers is invited to Ministry of Commerce’s Public Notice No. 7(2)/2012-E-III dated November 29, 2012 on the captioned subject in terms of which Government of Pakistan has allowed export of sugar. Accordingly, the Authorized Dealers are advised to process the cases as per following mechanism:- 

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 subject to either :-
   
   
   1. Receipt of a minimum 10% of total contract value as advance payment (evidencing by advance payment voucher, swift message and reporting schedule/credit advice) and exporter must ship the sugar within 60 days from the date of SBP approval or
   2. obtaining an irrevocable L/C 60 days maturity from the buyer.  
      
      
3. Banks will forward the requests of Sugar Mills alongwith attested photocopies of contract, E-Form, irrevocable L/C 60 days maturity or advance payment voucher, swift message and reporting schedule /credit advice as the case may be for SBP approval.
4. All requests should be addressed to the Director, Exchange Policy Department, State Bank of Pakistan, I.I. Chundrigar Road, Karachi.
5. SBP will allow permission against each E-Form on first come first served basis.
6. Bank will send sugar export update to the Director, Exchange Policy Department State Bank of Pakistan, I.I. Chundrigar Road, Karachi on daily basis.
7. Incomplete requests will not be considered.

Authorized Dealers are advised to bring the same to the notice of all their constituents.