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Sugarcane

TCP”s tender: 73 mills ready to offload 660,000 tons of sugar

January 15, 2013 RIZWAN BHATTI In response to Trading Corporation of Pakistan (TCP) sugar procurement tender, aggressive participation was witnessed as some 73 domestic mills have shown interest to offload 660,000 ton of commodity. Following the directives of federal government, TCP floated a gallop tender on December 14, 2013, for purchase of 330,000 tons of sugar from the local mills as they are facing some financial crisis followed by bumper sugarcane crop and slow sales in the…

Input tax on sugar supplies FBR circular set aside

LAHORE, Dec 19: The Lahore High Court has set aside a circular issued by the Federal Board of Revenue about reducing the rate of input sales tax on local supplies of sugar from 16 per cent to eight per cent. The Gojra Samundri Sugar Mills and others had challenged a federal government notification issued under section 13(2) of Sales Tax Act 1990 and a subsequent circular issued by the FBR on May 2, 2012. They also assailed the show-cause notices issued by the Deputy Commissioner Inland…

USC refuses to lift stock: MoC plans to sell 700 tons of imported sugar

December 18, 2012 MUSHTAQ GHUMMAN The Commerce Ministry has reportedly finalised a plan to sell 700 tons of imported sugar in the open market after the Utility Stores Corporation(USC) refused to lift the sugar saying it is not only fine grain but also infested with stones and foreign particles, sources close to the Secretary Industries told BR. The sugar is of Indian, Brazilian and Middle East origin and is stocked at the TCP''s Pipri godowns. Giving the background, the sources said…

TCP needs Rs 17 billion for sugar procurement

December 13, 2012 RIZWAN BHATTI The Trading Corporation of Pakistan (TCP) will require some Rs 17 billion financing from banks for procurement of 0.33 million tons white refined sugar. The Economic Co-ordination Committee (ECC) of the Cabinet on Tuesday asked the state-run grain trader to procure some 330,000 tons of sugar from domestic sugar mills, which are facing financial crunch followed by decline in the commodity prices and slow sales. Following the directives of the ECC, the…

Sugar millers accused of exploiting growers

December 13, 2012 Kisan Board Pakistan (KBP) has alleged that the sugar mills in Punjab in violation of Sugarcane Act are buying the sugarcane from growers on price less than the support price fixed by the provincial government at Rs 170 per maund. Reacting on information, KBP President Sardar Zafar Hussein said that the mills were not paying the minimum purchase price due to which sugarcane growers had to suffer loss of millions of rupees. He said that these mills were also…

Open export of sugar allowed

December 12, 2012 ZAHEER ABBASI The Economic Co-ordination Committee (ECC) of the Cabinet has allowed open export of sugar by doing away with the export quota for sugar mills. The ECC meeting presided over by Finance Minister Hafeez Sheikh on Tuesday was informed about the existence of surplus stock of sugar in the country and the need to allow sugar mills to export it before the next crop. However, an official said that some members of the ECC were against the abolition of quota…

ECC set to consider certain benefits for sugar mills

December 11, 2012 MUSHTAQ GHUMMAN The Eco-nomic Co-ordination Committee (ECC) of the Cabinet scheduled to meet on Tuesday (today) is all set to consider certain financial benefits for sugar mills in the shape of rebate on exports up to Rs 6 per kg on 0.5 million tons and procurement of 0.35 million tons through Trading Corporation of Pakistan (TCP), sources close to Secretary Industries told Business Recorder. Presided over by Finance Minister Dr Abdul Hafeez Shaikh, the…

TCP to buy 30,000 tons of sugar for Tajikistan

December 04, 2012 RIZWAN BHATTI Trading Corporation of Pakistan (TCP) has planned to procure 30,000 tons of white powder sugar for export purposes. Sources told Business Recorder on Monday that Tajikistan, which had already finalised a surge import deal with Pakistan, is demanding white powdered sugar instead of white refined sugar. Domestic sugar mills mainly produce only white refined sugar as there is no demand of powdered sugar in the country. White powdered sugar is also not…

Inefficient revenue system of agriculture dept: three sugar mills fail to pay over Rs 10 million cane cess

YASIR BABBAR November 24, 2012 Three sugar mills - M/s Ansari Sugar Mills, M/s Larr Sugar Mills and M/s Kiran Sugar Mills - failed to pay Rs 7.475 million of sugar cane development cess besides a penalty of Rs 3.249 million to the agriculture department in FY 2010-11. M/s Larr Sugar Mills, Sujawal and M/s Kiran Sugar Mills Rohri had also not paid penalty of Rs 3.249 million on late deposit of sugar cane development cess, it was revealed on Thursday. These disclosures are mentioned…

Mills allowed to export 0.4 million tons of sugar: previous quotas not utilised

November 19, 2012 MUSHTAQ GHUMMAN The federal government has decided to allow export of 400,000 tons of sugar through sugar mills despite the fact that the mills did not utilise their previous quotas allocated by the ECC, sources close to the Secretary Industries told Business Recorder. The proposal will be placed before the Economic Co-ordination Committee (ECC) of the Cabinet in its next meeting to be presided over by the Finance Minister Dr Abdul Hafeez Shaikh.…

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