ANNOUNCEMENT 18 Jul 2017
An export quota of 300,000 tonnes of sugar was announced in July 2017.
NUMBER OF INTERVENTIONS
On 18 July 2017, the Economic Coordination Committee of Pakistan approved an export quota of 300,000 metric tons of sugar.
A quota of 225,000 metric tons of sugar was last announced in December 2016, which was allowed to be exported until 31 July 2017.
The guidelines, published by the State Bank of Pakistan, provide that the quota will be allotted on a first come first served basis. Further, at least 15% advance payment or an irrevocable letter of credit is required from the buyer and all payments necessarily have to be made through bank wire transfers. No cash subsidy or support will be available for such exports.
The Economic Coordination Committee on 14 September 2017 allowed exports of 500,000 metric tons of sugar. Therein it also withdrew the unissued and issued & unexecuted quantity of sugar exports out of 300,000 metric tons.