ECC approves Extension in Subsidy on Export of Wheat and Wheat Products till August 31, 2017

A circular issued by SBP has informed all the Authorized Dealers that ECC of the Cabinet has approved extension in export period for wheat and wheat products (Flour, Fine, Suji and Maida).

In terms of the Ministry of National Food Security and Research (MNFSR), Government of Pakistan’s Notification No. 4-12/2014/DFSC-II/Wheat Export dated June 22, 2017 the ECC of the Cabinet has approved extension in export period for export of wheat/wheat products (Flour (Aata), Fine, Suji and Maida) beyond March 15, 2017 till August 31, 2017 subject to the term and conditions mentioned therein.

Accordingly, it is advised that subsidy on export of wheat/wheat products (Flour (Aata), Fine, Suji and Maida) shall be allowed till August 31, 2017 (to be determined by GD filing date) to those exporters who have lifted the wheat from go downs of Food Departments of respective Provincial Governments prior to March 15, 2017.

Therefore, exporters of wheat/wheat products will approach FEOD, SBP-BSC (Bank), Head Office or respective field office of SBP-BSC, as the case may be, through their Authorized Dealer claiming the subsidy latest by October 31, 2017. No claims will be entertained after aforementioned time period.

Application must be submitted as per enclosed revised Annexure-I, for each shipment separately, duly verified by Food Department of respective Provincial Governments with unique reference number.

Disbursement of the above subsidy against approved claims shall be subject to submission of verified lists of exporters by MNFSR from Provincial Food Departments. All other instructions on the subject shall remain unchanged. Authorized Dealers are advised to bring the same to the notice of all their constituents.