International Sugar Journal

Pakistan – Millers refuse to sell sugar at PKR70/kg [Registered]

The Pakistan Sugar Mills Association (PSMA) has refused to sell the sweetener at PKR70 (US¢ 36) per kg.

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Pakistan – FBR’s track and trace system at sugar mills generates 33% increase in tax collection [Registered]

The Federal Board of Revenue (FBR) has achieved a milestone by successfully implementing the track and trace system (TTS) in sugar mills during the ongoing crushing season. As a result, it has collected PKR26.5 billion (US$144 million) sales tax from the millers in the current campaign as against PKR19.9 billion collected in the previous year, according to local press reports

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Pakistan – 2022/23 sugar production forecast at 7.2 million tonnes, says USDA [Full subscriber]

The 2022/23 sugar output is forecast at 7.2 million tonnes by USDA in its latest report. It is marginally higher than the output (7.14 million tonnes) in 2021/22. With cane production forecast at 89.5 million tonnes, this suggests sugar recovery of less than 10%.

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Pakistan – Prime Minister will inaugurate track, trace system in sugar mills [Full subscriber]

Prime Minister Imran Khan will inaugurate the rack and trace system of the Federal Board of Revenue (FBR) for the sugar industry on November 23 when the 2021/22 campaign commences, according to local press reports.

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Pakistan – US$3.37 billion tax imposed on 69 sugar mills following a government audit [Full subscriber]

Following the completion of a five-year tax audit of 69 sugar mills by the Federal Board of Revenue (FBR), they have been slapped with a tax of about PKR588 billion (US$3.37 billion) as well as a fine of PKR42 billion for cartelisation, adviser to the Prime Minister on Interior and Accountability Shahzad Akbar said at a press conference.

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Pakistan – Competition Commission fines the sugar industry US$268 million for anti-competitive practices [Full subscriber]

The Competition Commission of Pakistan (CCP) imposed on 13th August a penalty of PKR44 billion (US$268 million) on the sugar industry for cartelisation, price-fixing and market manipulation – violating the Competition Act 2010, according to local press reports.

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Pakistan – 100,000 tonnes sugar bought from Al Khaleej [Full subscriber]

The Trading Corporation of Pakistan (TCP) purchased 100,000 tonnes of white sugar in a tender for the same volume which closed last week, European traders said on 5th July.

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Pakistan gets offers for white sugar import through international tender that is US$49/tonne more than from India [Full subscriber]

The lowest price offered in the international tender to buy 50,000 tonnes of sugar from Pakistan’s state trading agency Trading Corporation of Pakistan (TCP) which closed on 27th April is believed to be around US$447/tonne c&f (cost + freight), European traders said in initial assessments, reported Reuters.

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Pakistan – Government will shoulder costs for installing video surveillance technology at sugar mills to monitor production [Full subscriber]

The Economic Coordination Committee (ECC) approved on 8th February PKR350 million (US$2.2 million) for the installation of Video Analytics Surveillance (VAS) systems at sugar mills to monitor their operations and prevent tax evasion, according to local press reports.

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Pakistan – Surveillance of sugar production in real-time at Sindh’s 29 sugar mills by the tax department in advance stage [Full subscriber]

The tax department Federal Board of Revenue (FBR) has deputed its officials at sugar mills as a stopgap measure until it develops real-time access to video monitoring of crushing and other production processes. This is to stem tax evasion, according to local press reports.

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