ANNOUNCEMENT 30 May 2012

The sugar export quota has been increased from 100,000 to 300,000 tons.

NUMBER OF INTERVENTIONS

1

  • 0 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

Public Notice of the Ministry of Commerce
http://www.sbp.org.pk/epd/2012/FECL5_Annex.pdf

Circular of the State Bank of Pakistan - 14 june 2012
http://www.sbp.org.pk/epd/2012/FECL5.htm

Inception date: 30 May 2012 | Removal date: 07 Sep 2013

Export quota

On 30 May 2012, Pakistan's Ministry of Commerce through Public Notice No. 7(2)/2012-E-III notified an export quota of 200,000 tons of sugar. A quota of 100,000 had been announced earlier in January 2012. Each individual sugar mill is allowed to export up to 5000 tonnes on a first come first served basis.

On 12 October 2012, an export quota of an additional 200,000 tons was announced (see related State Act).

On 11 December 2012, all contracts made under the above quota that had not been exported or were partially exported were canceled. The quantity of sugar against the canceled contracts will be allowed for export against a minimum of 10% advance payment of contract or an irrevocable letter of credit and to be shipped within 60 days of approval (see related State Act). Further, no limit would apply to exports by individual sugar mills.

On 18 July 2013, the Economic Coordination Committee decided that all unutilized export quotas by the sugar mills within their time frames will be canceled. Further, all canceled and fresh quotas will be allotted to sugar mills on a first come first served basis on production of an irrevocable letter of credit within 60 days of shipment time. 

The validity of this quota has been kept until a fresh quota independent of the above was announced in September 2013.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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