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SBP directs banks to put on hold sugar exports by mills located in Khyber Pakhtunkhwa
The State Bank of Pakistan (SBP) directed commercial banks on Tuesday to put sugar exports by the mills located in Khyber Pakhtunkhwa’s (KP) on hold till the provincial administration endorses the overseas sales of the commodity. In a circular titled ‘Revised Instructions - Export of 200,000 MT [Metric Ton] of Sugar’, the central bank asked commercial banks to process export transaction of the commodity by eligible sugar mills located in Punjab and Sindh after the two provincial governments endorsed the revised quotas of sugar mills located in their respective territories. “The Government of P...
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