Jan 22
Money & Banking, Trade & Industry
SBP issues instructions to banks for sugar export
KARACHI: State Bank of Pakistan (SBP) on Saturday issued instructions to banks regarding export of sugar that was allowed by the government.
Apr 26
Taxation, Top stories
FBR directed to bring entire sugar supply chain into tax net
ISLAMABAD: President of Pakistan, Dr. Arif Alvi has directed the Federal Board of Revenue (FBR) to bring entire supply chain of sugar sector into to tax net. Dr Arif Alvi directed the tax authorities to bring into the tax net the unregistered wholesalers, dealers or distributors of sugar buying huge quantities from sugar mills to […]
Jan 10
Taxation, Top stories
Retail price of sugar may be abolished for sales tax
ISLAMABAD: The government has proposed to withdraw sugar for charging sales tax on retail price by making amendment in the main tax law. Through Finance (Supplementary) Bill, 2021 dated December 30, 2021, the government proposed to withdraw the condition of collecting sales tax on sugar retail price. The government after just six months of making […]
Dec 25
Taxation, Top stories
Digital tax monitoring yields Rs32.43bn from sugar sector
ISLAMABAD: The digital monitoring initiated by the Federal Board of Revenue (FBR) has resulted in a collection of Rs32.43 billion from the sugar sector during the first half of the current fiscal year. The FBR in a statement issued on Friday said that the implementation of the Track and Trace System (TTC) to monitor sugar […]
Nov 24
Trade & Industry
FPCCI recommends interprovincial trade of sugar
KARACHI: Mian Nasser Hyatt Maggo, President, Federation of Pakistan Chambers of Commerce and Industry (FPCC), has recommended trade and transportation of sugar and sugarcane at interprovincial level. In a statement on Wednesday, Maggo observed that market forces allowed under fair and transparent conditions do have the potential to stabilize the sugar market and ensure availability […]
Nov 12
Taxation, Top stories
FBR bans sugar bags movement without tax stamps
ISLAMABAD: The Federal Board of Revenue (FBR) on Thursday has taken major decision to ban removal of sugar bags from factory premises without affixation of tax stamp. The condition has been imposed to implement track and trace system for monitoring of production and supply of the commodity for the crushing season 2021-2022. In order to […]
Nov 5
National, Top stories
PM directs pursuing legal cases against sugar mills
ATTOCK: Prime Minister Imran Khan on Friday directed the law minister to pursue the cases against sugar mills on urgent basis for the benefit of general public and for addressing price hike of the commodity. To address the ongoing sugar crisis, Prime Minister Imran Khan on Friday directed the law minister to urgently get vacated […]
Aug 26
Finance
ECC stresses commodities stocks amid Afghan situation
ISLAMABAD: The Economic Coordination Committee (ECC) of the Cabinet on Wednesday emphasized the importance of building strategic reserves of commodities in wake of evolving situation in Afghanistan. The committee discussed that the situation in Afghanistan may affect the prices in the domestic market. Federal Minister for Finance and Revenue, Shaukat Tarin, presided over the ECC […]
Aug 5
Taxation
Tax on sugar retail sale to be imposed from December 01
ISLAMABAD: Federal Board of Revenue (FBR) on Thursday said that sales tax on sugar retail sale shall be imposed from December 01, 2021. The FBR issued SRO 989(I)/2021 to defer the implementation of sales tax on retail sale of sugar for five months. According to the SRO the sales tax on sugar retail sale shall […]
Aug 1
Ports and Shipping
Karachi Port confirms sinking of sugar cargo container
KARACHI: Karachi Port Trust (KPT) has confirmed the sinking of a container laden with sugar through a statement released few moments ago. It is stated: “Truck loaded with sugar cargo while leaving berth number 5, East Wharf, after issuance of bilty encountered mechanical failure at around 5:20 pm today [Saturday], dated: 31.07.2021, fell in port […]