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SBP not paying rebates on sugar exports, association complains

LAHORE (Dunya News) – Sugar exporters have complained Wednesday that State Bank of Pakistan (SBP) is not paying refunds to industries ignoring government’s directives.

All Pakistan Sugar Mills Association has stated that the supreme bank neither did pay rebate on 2.38 lac tonne sugar exported until March 31 but also refused to accept document pertaining to rebate claim.

The association has demanded the government to take notice of the issue and issue rebate under the incentive package announced earlier. It should be noted here that sugarcane farmers are yet to be paid by the mills. Industry owners are awaiting the refunds to make payments to the victimized farmers.

Exporters have further stated that TDAP did not pay the association under freight subsidy in the last four years.