The Presidents/Chief Executives

Authorized Dealers in Foreign Exchange

Dear Sir/Madam,

Export of 200,000 MT of Sugar

Attention of Authorized Dealers (ADs) is invited towards the enclosed Ministry of National Food Security & Research (MNFSR) letter No. 19(12) EXPORT/PED/API-0001 dated September 23, 2026. As per the aforesaid letter, the Economic Coordination Committee (ECC) of the Cabinet has allowed export of 200,000 MT of sugar with certain terms and conditions. The ECC’s decision has also been ratified by the Federal Cabinet.

2. MNSFR, vide its Office Memorandum No. 19(12)EXPORT/PED/API-0001 dated October 01, 2026, shared the operational modalities for implementation of the sugar export quota along-with Pakistan Sugar Mills Association (PSMA) letter No. PSMA-C/B-92026/447 dated September 28 2026, containing mill-wise sugar quota details (copies enclosed).

3. Accordingly, Authorized Dealers are advised to process the requests of eligible sugar mills for “Export of 200,000 MT of Sugar”, subject to submission/fulfillment of the following:

1. Authorized Dealers shall ensure that Financial Instrument (FI) issuance requests of exporters are processed in accordance with the mill-wise quota allocated by the Pakistan Sugar Mills Association (PSMA) vide its aforementioned letter dated September 28, 2026.
2. The export of sugar shall be made against sight letter of credit or advance payment.
3. The shipment of sugar shall only be made by sea.
4. There will be no shipment deadline.
5. The realization of export proceeds against letter of credit shall be made within the regulatory time-period prescribed by SBP.
6. Authorized Dealers 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-A) at [email protected] by every Friday at 1600 HRS.

4. Authorized Dealers shall perform due diligence of the transaction and satisfy themselves with the bona fides of the client and underlying transaction in line with the applicable regulations.

5. Authorized Dealers are advised to bring the above instructions to the knowledge of all their constituents and ensure meticulous compliance thereagainst.