Karachi: Pakistan government has initiated the process to import 0.2 million tonnes of white sugar to meet the domestic sugar deficit. As a part of the process to start the import, the State Bank of Pakistan (SBP) has advised the banks to speed up the process in this regard setting some conditions for importers.
According to the media report, the SBP has stated the company having permits from the Ministry of Commerce are allowed to import sugar. Advance payment up to 100 per cent of the value of letters of credit and contract would be allowed.
Pakistan is facing a shortage of sugar, therefore it has decided to import sugar that will cater to the domestic need.
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