of Authorized Dealers is invited to Ministry of Commerce’s
Public Notice No. 7(2)/2012-E-III dated December 14, 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:-
The contracts made in pursuance of ECC decision of January
and May, 2012 against which the sugar has not yet been exported
or partially exported be immediately cancelled.
The contracts made in pursuance of ECC decision of October,
2012 shall be cancelled if sugar is not exported within
15 days of the ECC decision on this issue.
The quantity of sugar against the cancelled contracts shall
be allowed export against minimum 10% advance payment of
contract or irrevocable letter of credit and shipped within
60 days from the date of approval of SBP.
There will be no limit on individual Sugar Mills for export.
Sugar mills shall export 500, 000 MT against irrevocable
L/C or contract with 10% advance payment to be shipped in
90 days of the registration with SBP in addition to already
allowed export of 700,000 MT of sugar.
the Authorized Dealers are advised to process the cases
as per following mechanism:-
All approvals granted under FE Circular Letter No. 3 &
5 dated March 05, & June 14, 2012 respectively stand
cancelled with immediate effect.
All approvals granted under FE Circular Letter No.8 dated
October 19, 2012 will remain valid for shipment up to December
26, 2012 and stand cancelled thereafter.
Request for approvals against the 1 & 2 above would
be subject to either of the following conditions and procedure
conveyed in above FE Circular Letters:-
To receive a minimum 10% of total contract value as advance
payment (evidencing by advance payment voucher, swift
message and reporting schedule/credit advice) and shipped
within 60 days from the date of approval of SBP. or.
Obtaining an irrevocable L/C 60 days maturity from the
buyer and shipped within 60 days from the date of approval
approval against fresh allocation of 500,000 MT of sugar
will be subject to the following:-
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 90 days from the date of SBP approval.
Obtaining an irrevocable L/C 90 days maturity from the buyer.
Banks will forward the requests of Sugar Mills alongwith
attested photocopies of contract, E-Form, irrevocable L/C
90 days maturity or advance payment voucher, swift message
and reporting schedule /credit advice, as the case may be,
for SBP approval.
All requests should be addressed to the Director, Exchange
Policy Department, State Bank of Pakistan, I.I. Chundrigar
Road, Karachi with reference to the related F. E. Circular
Letter on the subject.
SBP will allow permission against each E-Form on first come
first served basis.
Bank will send sugar export update to the Director, Exchange
Policy Department State Bank of Pakistan, I.I. Chundrigar
Road, Karachi on daily basis.
Incomplete requests will not be considered.
Dealers are advised to bring the same to the notice of all