LAHORE, Jan 12: The Pakistan Sugar Mills Association has demanded equal distribution of the quota for import of 200,000 tons of raw sugar among 78 mills in the country.
In a letter to the State Bank Governor, PSMA secretary general Ali Qizilbash said every sugar mills should be sanctioned a quota limit of 10,000 to 15,000 tons. The parties blocking the quota should be directed to produce firm contracts backed by letters of credit in next three to four days. The quota should be reallocated in the event of their failure to do so.
He expressed concern over the reports that the entire quota of 200,000 tons had been exhausted by certain parties by submitting fictitious contracts without actually booking the raw sugar for import from anywhere or opening any letter of credit. The mills interested in importing raw sugar for refining thus could not import it on account of blocking of quota.
