ANNOUNCEMENT 31 Jan 2012
Pakistan permitted the exports of sugar with a quota of 100,000 tons.
NUMBER OF INTERVENTIONS
On 31 January 2012, Pakistan's Economic Coordination Committee permitted the exports of sugar and approved a quota of 100,000 metric tons. Public Notice No. 7(2)/2012-E.III was published by the Ministry of Commerce notifying this update.
Each individual sugar mill is allowed to export up to 5000 tonnes on a first come first served basis.
The export quota has been further increased several times, most recently by 200,000 tons in May (see related State Acts).
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.