USC Sugar Supply Resumes After FBR Clarifies New Tax Exemption

USC Sugar Supply Resumes After FBR Clarifies New Tax Exemption

The supply was halted in the wake of the newly imposed Federal Excise Duty (FED) of Rs 15 per kilogram of sugar.

The sale of sugar at Utility Stores in Islamabad has resumed, the sources privy to the development said, and added, that supply will resume to USC across the country in a day or two.

It was learned that the corporation had sought clarification from the Federal Board of Revenue (FBR) on the new sugar tax.

Which, the FBR clarified that FED does not apply to the sale of the commodity at the USC.

Earlier sources revealed that Utility Stores Corporation (USC) procured 10,000 metric tonnes of sugar at Rs141.20/kg.

Utility Stores Corporation procures 10,000 metric Tonnes of Sugar

Sources privy to the development said the Utility Stores Corporation procured the 40,000 metric tonnes of sugar from the tender of 45,000 metric tonnes issued.

It is pertinent to mention here that a total of Rs 65 billion were allocated for the PM’s and Ramadan packages in the budget out of which Rs 10 billion were allocated for the PM’s Ramadan Relief Package and the remaining Rs 55 billion for the PM’s Relief Package.

Additionally, Rs 35 billion were allocated under the PM’s package for the ongoing financial year.