Prime Minister Imran Khan will inaugurate tracking and tracing system for the sugar industry under Federal Board of Revenue (FBR) on November 23.
Most sugar factories will start production within a few days, according to sources, and FBR want to monitor production through a monitoring system starting this year as the factories do not provide accurate statistics on their production.
Recently, the FBR also gave the SRO regarding the introduction of the sugar sacking system. The SRO states that from November 11, the dispatching of Sugar bags from a production site, building or production facility without unique identification tags (UIM) is prohibited. They must be obtained from the FBR licensee AJCL / MITAS / Authentix Alliance .
It is worth mentioning here that sugar is the second largest sector after tobacco, as FBR is implementing an electronic production and sales management system at all production sites to monitor any tax evasions.
It is worth mentioning here that sugar mills will begin crushing sugarcane in different parts of the country from November 15, and the government expects a buffer harvest of sugarcane during this period, which will help lower sugar prices in the local market.
The ex-retail sugar price is currently around Rs 92 per kilogram in South Punjab and prices will drop by Rs 10 over the next few days when production starts, according to a Pakistan Sugar Producers Association (PSMA) spokesman.
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