Saturday , April 10 2021
Breaking News
Home / Tag Archives: sugar

Tag Archives: sugar

LHC bars govt to procure sugar at Rs80 per kilogram from millers

LAHORE: The Lahore High Court (LHC) has on Tuesday barred the government from procuring sugar at Rs 80 per kilogram from millers. The plaintiff had maintained that the government does not have any authority to fix sugar rates. The LHC summoned industries secretary, cane commissioner and representatives of the Federal Investigation Agency (FIA) on Wednesday. It is pertinent here to ... Read More »

FBR allows exemption from income tax on import of sugar

ISLAMABAD: Federal Board of Revenue (FBR) allowed exemption from income tax on import of raw and refined sugar. The FBR issued SRO 235(I)/2021 in pursuance to the federal cabinet decision dated January 26, 2021. Through the SRO the FBR amended Second Schedule of the Income Tax Ordinance, 2001. According to the amendments, the tax under Section 148 on commercial import ... Read More »

Germany customs seizes P85M worth of smuggled sugar

BERLIN: The Bureau of Customs’ (BOC) Intelligence Group (IG) has seized 57 shipping containers of smuggled sugar from Thailand worth over P85 million, the biggest haul of illegally imported sugar confiscated by the bureau this year in terms of volume and value. This brought to more than P284 million the amount of smuggled sugar seized by the BOC since January, ... Read More »

Smuggler arrested on Kenya border with 175 sugar bags, several boxes of insecticides

Nairobi : Illegal goods, mainly sugar, normally pass into the country from Somalia through the porous border. Kenyan authorities have had a difficult time to control the entrance of contraband goods due to the region’s proximity to war-torn Somalia. Kenyan police at the border town of Garissa have seized an illegal consignment of sugar and other goods suspected to be ... Read More »

India to consider subsidy for raw sugar exports in Cabinet

NEW DELHI: India, the world’s second biggest sugar producer, could consider subsidy for raw sugar exports at a cabinet meeting on Thursday, a top government source said on Wednesday. Food Minister Ram Vilas Paswan said last week the government could give export incentives for 1.4 million tonnes of raw sugar as mills start distress sale to pay cane farmers. The ... Read More »

Philippines customs seizes rice, sugar, garlic at Mindanao Port

MANILA: The Philippines Bureau of Customs said it seized around P140-million worth of agricultural products such as rice, sugar and garlic, at the Mindanao Container Terminal. The smuggled goods entered Mindanao through several shipments from China and Vietnam, consigned to EC Peninsula and New Dawn Enterprises. The two companies had previously been charged with smuggling raps by the BOC before ... Read More »

Philippines Customs expands smuggling probe to local officials, journalists

ZAMBONGA: The Bureau of Custom (BOC) has included the entire local officials from neighboring areas and journalists in its investigation of disappearance of more than 845 sacks of smuggled Malaysian sugar last week. Deputy Customs Commissioner Jessie Dellosa told reporters here on Tuesday that smuggling here involved “many personalities.” He admitted that those behind smuggling included customs people. “They are ... Read More »

ECC allows 0.5m tonnes sugar export, imposes 20pc duty on import

ISLAMABAD: The Economic Coordination Committee (ECC) of the cabinet has allowed export of 500,000 tonnes of sugar and imposed 20 per cent regulatory duty on its import to facilitate sugar industrialists, who are facing financial crisis. The committee meeting, presided over by Finance Minister Ishaq Dar, allowed export of surplus sugar recommended by the Ministry of Industries and Production with ... Read More »

Inflation of 0.39% to 0.36% YOY for 53 items in 17 urban centres as record Rs14.68 POL price cut

ISLAMABAD: Pakistan Bureau of Statistics (PBS) has issued the Sensitive Price Indicator (SPI) for the week ended on November 6 for the lowest income group up to Rs8,000, which showed decrease from 0.39pc to 36pc. The SPI for the week under review in the above mentioned group was recorded at 207.19 points against 207.28 points registered in the previous week. ... Read More »

Steel prices to down by Rs2,000 per ton, cooking oil by Re1 per kg

KARACHI: The benefits of reduction in petroleum prices has started appearing as the prices of steel and cooking oil will also be reduced by Ra2,000 per ton and Re1 per kg respectively. Pakistan Vanaspati Manufacturers Association (PVMA) Chairman and Mujahid Steel Re-rolling Industry Managing Director Atif Ikram Shaikh said this while talking to media. South Asian Association for Regional Cooperation ... Read More »

Govt urged to allow export of 500,000-tonne sugar immediately

ISLAMABAD: Pakistan Sugar Mills Association (PSMA) has urged the government to allow export of 500,000 tonnes of sugar immediately and overall up to 1.5 million tonnes to compete with India. PSMA Chairman Iskandar Khan, after the meeting with Commerce Secretary, said that the millers were struggling to process sugar and sell it locally because of a bumper crop, but would ... Read More »

Inflation declines to 5.8pc in 18-months

ISLAMABAD: Though the POL prices were down in November, yet the inflation rate was recorded at 18-month low during October this year due to unchanged prices of petroleum products from July to September. The inflation rate, based on consumer price indicator (CPI), was witnessed at 5.8 per cent low in October 2014 as compared to the same month of the ... Read More »

Tax evaders beware! FBR is watching you

KARACHI: The Federal Board of Revenue (FBR) has decided to take action against tax evaders. FBR sources told Customs Today that action would be taken against tax evaders from sugar and cement sectors in the first phase. A vigorous operation is likely to start against the tax evaders in November. Sources said the FBR failed to meet revenue targets due ... Read More »

USC opens tenders for procuring sugar

ISLAMABAD: In order to overcome sugar shortage in all the Utility Stores Corporation (USC) outlets in Pakistan, the USC has opened tenders for procuring sugar. According to a USC management official, the shortage of sugar at USC outlets was due to non-availability of the commodity and this issue would be handled soon as USC had opened tenders for procuring sugar. ... Read More »