| EPD Circular Letter No. 05 /EPP.1 (51)-Sugar - 2012
The Head/ Principal Offices of all
Authorized Dealers in Foreign Exchange
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 May 30, 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:-
i- 200,000 tons of sugar will be exported.
ii- A quantity not in excess of 5,000/- tons shall be allowed to be exported by individual sugar mills on first come first served basis.
iii- The export shall be made only against E-Form.
iv- 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:-
- 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 5,000 tons per Sugar Mill.
- All request should be addressed to Director, Exchange Policy Department State Bank of Pakistan, I.I. Chundrigar Road, Karachi
- SBP will allow permission against each E-Form on first come first served basis.
- Bank will send sugar export update to Director, Exchange Policy Department State Bank of Pakistan, I.I. Chundrigar Road, Karachi on daily basis.
- Incomplete requests will not be considered.
- Applications received after July 23, 2012 will not be entertained.
Authorized Dealers are advised to bring the same to the notice of all their constituents.