KARACHI: The State Bank of Pakistan (SBP) has announced a 15-day extension for facilitating sugar exports, following approval from the federal cabinet.
In a circular issued on Friday, the SBP confirmed that the extension is added to the existing 45-day shipment period. This extension is applicable starting from the quota allocation date by the Provincial Cane Commissioner for provinces other than Punjab.
For Punjab’s sugar mills with unutilized export quotas, the extension begins from the date of the cabinet’s decision.
However, the extension will not apply to sugar mills that have not utilized export proceeds to settle outstanding payments to growers.
