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 FE Circular Letter No. 11 dated December 18, 2012 on the subject.
In this regard, ECC in its meeting held on July 18, 2013 has decided as follow:-
- Cancel all those sugar export quotas which were not utilized by the sugar mills within their respective prescribed time.
- Award all cancelled as well as fresh quotas of the sugar export to the prospective exporters on first come first served basis subject to production of an irrevocable Letter of Credit (L/C) within 60 days shipment time.
Now all approvals for sugar export will be issued as per the above decision of ECC. Other terms and conditions /procedure as mentioned in the FE Circular Letter No. 11 dated December 18, 2012 will remain unchanged.
Authorized Dealers are advised to bring the same to the notice of all their constituents.