The Presidents/Chief Executives of
All Authorized Dealers in Foreign Exchange
Import of Sugar by Private Sector under Ministry of Commerce’s Public Notice
Attention of Authorized Dealers (ADs) is invited to Ministry of Commerce’s Public Notice No. PID(I) No. 1038 (Annexure-I) regarding the above subject.
2. In terms of the above Public Notice, Government of Pakistan has allowed import of 200,000 tons of white sugar by private importers as per the terms and conditions mentioned therein.
3. In order to facilitate the import of sugar under the subject Public Notice, ADs may process the requests for import of white sugar as per following terms & conditions:
- Import may be allowed on behalf of those importers who have been issued permit(s) by the Ministry of Commerce under the above-mentioned Public Notice;
- Import may be allowed on CFR Free out basis, as an exception to the instructions given under Para 5 Chapter 13 of the FE Manual;
- Advance payment up to 100% of the value of letter of credit/contract/proforma invoice may be allowed, subject to compliance with other terms & conditions given under Para 30 of Chapter 13 of the FE Manual;
- ADs shall submit consolidated data of LCs issued and advance payments made, against issued permits, to Foreign Exchange Operations Department, SBP BSC, Head Office, Karachi on daily basis, by close of business same day, as per the enclosed reporting format (Annexure-II) at [email protected];
- ADs shall ensure compliance with all other terms & conditions of permit(s) issued by Ministry of Commerce.
4. All other instructions related to the above shall remain unchanged.
5. Authorized Dealers are advised to bring the above instructions to the knowledge of all their constituents for meticulous compliance.
Encl: As above