The Presidents/Chief Executives
Authorized Dealers in Foreign Exchange
Dear Sir / Madam,
Export of Sugar
- Attention of Authorized Dealers (ADs) is invited towards the enclosed Ministry of Industries and Production’s Office Memorandum (O.M) F. No.1(6)/2022-23-CAO dated June 26, 2024. As per the O.M., the Economic Coordination Committee (ECC) of the Cabinet has allowed export of 150,000 MT of sugar with certain terms and conditions as provided in its Case No. ECC-116/12/2024 dated June 13, 2024. The ECC’s decision has also been ratified by the Federal Cabinet in its decision case No. 181/22/2024 dated June 25, 2024.
- Accordingly, ADs are advised to process the requests of eligible applicants for “Export of Sugar”, subject to submission/fulfillment of the following:
- ADs will obtain proof of allocation of quota by the respective Provincial Cane Commissioner and keep a copy of the same in their record.
- ADs will submit sugar export transactions and shipment updates to the Director, FEOD, SBP-BSC, Head Office, Karachi on weekly basis as per the enclosed reporting format (Annexure-I) at [email protected] by every Friday at 1700 HRS.
- ADs will obtain an undertaking from the exporters that consignment would be shipped within 45 days from the date of quota allocation.
- ADs will ensure 100% receipt of export proceeds in advance from the buyer abroad through the normal banking channel, before the shipment takes place, based on valid sales contract.
- In view of the foregoing, the earlier instructions contained in EPD Circular Letter No. 06 dated January 30, 2023 on the captioned subject stand superseded.
- ADs are advised to bring the above instructions to the knowledge of all their constituents and ensure meticulous compliance there against.
