SBP grants 15-day extension for sugar export shipments

The State Bank of Pakistan (SBP) has directed banks to facilitate sugar export shipments for an additional 15 days, following approval from the federal cabinet. 

According to a circular issued by the SBP, the extension builds on the initial 45-day period previously granted for sugar exports.

For provinces other than Punjab, the 15-day extension will begin from the date the Provincial Cane Commissioner allocates export quotas. 

However, for Punjab's sugar mills with unutilised quotas, the extension will be effective from the date the cabinet issued its decision.

The extension will not apply to sugar mills that have failed to use export proceeds to settle outstanding dues to sugarcane growers.