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Results for “Sugar” (18)

Syeda Mubeena Hashmi Posted in World

India Moves to Limit Junk Food Sales Near Schools

India is moving closer to restricting sales of foods high in fat, salt and sugar within 50 metres of schools. The proposed rules would affect shops, restaurants and food vendors near schools nationwide, targeting products such as soft drinks, chips, samosas, pizzas and burgers. The move is part of broader efforts to address rising obesity, particularly among children, while businesses warn of possible sales losses. Read More…

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Syeda Mubeena Hashmi Posted in Business

Pakistan approves sugar export plan amid rising imports

Pakistan has decided to export imported sugar, with the Trading Corporation of Pakistan inviting bids for 107,739 tonnes. Bids will remain open until September 28 and be opened the same day. The move follows a sharp rise in sugar imports during the current fiscal year. Official data showed imports surged significantly, while overall food imports also increased, including major purchases of palm oil, tea and dried fruits. Read More…

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Hafsa Mustafa Posted in Business

Pakistan gets IMF nod for sugar import tax relief

The International Monetary Fund (IMF) has lifted its objection to Pakistan’s tax relief on imported sugar, following successful negotiations by the government. The relief, detailed in a FBR notification, reduces the sales tax from 18% to 0.25% and is not part of the national budget or a subsidy program, a stance Pakistan clarified to address IMF concerns over fiscal discipline amid a sugar shortage, the sources within the finance ministry added. Pakistan plans to import 100,000 tons of sugar in the first phase, costing $56.7 million, with a tax exemption… Read More…

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Hafsa Mustafa Posted in Uncategorized

IMF ‘objects’ to sugar import subsidy

The International Monetary Fund (IMF) has expressed reservations over Pakistan’s decision to offer tax exemptions and subsidies on imported sugar, warning that such measures could jeopardize the ongoing $7 billion loan program. According to official sources, the IMF has opposed the government’s plan to provide a subsidy of Rs55 per kilogram on imported sugar, which is expected to arrive in Pakistan at a cost of Rs249 per kg. The international lender has also rejected the Pakistan government’s justification that the import falls under “food emergency” measures. Read More…

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Alina Hashmi Posted in Business

FBR deputes officials to monitor sugar production, sales

Islamabad: The Federal Board of Revenue (FBR) invoked Section 40-B of the Sales Tax Act 1990 and deputed field formation for monitoring of sales of sugar production at all sugar mills across the country. The tax officers at the sugar mills across the country would check the clearance of stocks through the manually installed system of tax stamps on sugar bags. Under the said enforcement provision of the sales tax law, the FBR or chief commissioner may post an officer of Inland Revenue to the premises of a registered person… Read More…

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Hafsa Mustafa Posted in Uncategorized

FBR deploys special teams in sugar mills

The Federal Board of Revenue (FBR) has taken another step to curb tax theft and deployed special teams to monitor sugar mills across the country. The FBR spokesperson said in a statement that field formation teams have been deployed in sugar mills across the country. The statement read that sugar was one of the notified commodities being monitored by the state. Read More…

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Hafsa Mustafa Posted in Politics

Shehbaz Sharif, Hamza summoned on Ramzan Sugar Mills case

Former prime minister and Pakistan Muslim League Nawaz (PML-N) president Shehbaz Sharif and his son Hamza Shehbaz have been summoned in Ramzan Sugar Mills case. As per details, the summon notification was issued to the PML-N leaders by the accountability court. The accountability court judge Ali Zulqarnain Awan heard the case as the Ramzan Sugar Mills case reopened after the NAB amendment was declared null by Supreme Court. Read More…

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Hafsa Mustafa Posted in Business

Sindh Cabinet to mull over Thar granite economic zone

Sindh’s caretaker cabinet in a session on Oct. 31 will discuss, sugarcane support prices, a special economic zone for granite in Thar and other agendas. The provincial caretaker cabinet with Chief Minister Maqbool Baqar in chair, will meet at the Sindh Secretariat, according to an official notification. The caretaker cabinet will discuss a 16-point agenda including the fixation of the support price of sugarcane, workers' minimum wage and setting up a special economic zone for granite in Tharparkar. Read More…

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Alina Hashmi Posted in Business

Centre can't fix the sugar prices: LHC

The Lahore High Court on Thursday ruled that the federal govt didn’t enjoy the powers to fix sugar prices as the provinces were the sole authority to decide the matter. The verdict was announced by a two-member bench headed by Justice Shahid Karim. The court decided in favor of the sugar mill owners who had filed petitions against the federal government for fixing the sugar prices. Read More…

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