PM asks Finance Ministry to check sugar price

ISLAMABAD: Prime Minister Yousuf Raza Gilani on Saturday took a serious note of media reports about the hike in sugar price and directed the finance minister to immediately convene a meeting of the committee on sugar.

He directed the minister to come up with recommendations to ensure easy availability of the commodity at reasonable rates throughout the country.

Sugar price have soared up to Rs80 per kg in last one week and its price hike is escalating on daily basis after reports of serious shortage of the commodity due to sharp decline in sugar-cane production this year. The sugar millers express the fear that it may go up to Rs90 per kg by end of the crushing season. — Ahmad Hassan.

State Bank announces payment of 6pc R&D

KARACHI: The State Bank of Pakistan has announced procedure for payment of 6 per cent Research and Development (R&D) support on export of processed food.
 
The SBP issued a circular inviting attention of authorised dealers to Trade Development Authority of Pakistan’s (TDAP) public notice on the subject of 6 per cent R&D support for export of processed foods.
The federal government has allowed 6pc R&D support on exports of processed food subject to observance of certain terms and conditions.

‘Claims so received may be forwarded to the TDAP for further necessary action at their end,’ said the SBP circular.