ISLAMABAD, July 8: Sugar millers have informed SBP governor Dr Shamshad Akhtar that they are facing difficulties in meeting a recent directive of the SBP to adjust all previous advances against the securities of sugar stocks by the end of this month. An 11-member delegation of the Pakistan Sugar Mills Association (PSMA) led by its vice chairman Iskandar Khan met the SBP governor here on Saturday and apprised her about the difficulties they were encountering in meeting the July 31 deadline to adjust all previous advances against the securities of sugar stock.

They were of the view that the imposition of the 50pc cash margin requirement by the SBP had put an extra burden on the millers, stated an official announcement.

The SBP chief assured the delegation that the bank would look into the issue after getting more information from banks and the millers' association about the stocks of sugar and the advances against the stocks.