KARACHI: The State Bank of Pakistan (SBP) has issued a new circular outlining guidelines for the export of 200,000 tonnes of sugar, it was reported on Wednesday.
Under the new instructions, export quotas for Punjab and Sindh have been approved, while approval for Khyber Pakhtunkhwa’s quota is still pending.
The circular states that sugar exports will be permitted against advance payment or through a letter of credit (LC).
It also specifies that sugar must be shipped exclusively by sea. No deadline has been set for completing the shipments.
Banks have been directed to submit weekly reports to the State Bank detailing sugar exports under the new arrangements.
