PM to inaugurate tracking and traceability system for the sugar industry on 23 November
ISLAMABAD: Prime Minister Imran Khan will inaugurate the Federal Board of Revenue (FBR) tracking and tracing system for the sugar industry on November 23.
In this regard, Profit has learned that the Prime Minister will inaugurate the system via a Zoom link.
Sources said most of the sugar factories will start production within the next two to three days and that the tax department wants to monitor production through the tracking and tracing system from this year as factories do not report exact statistics on their production.
Recently, FBR also issued an SRO regarding the implementation of the system on sugar bags. ORS states that no bag of sugar will be allowed to be removed from a production site, factory premises or manufacturing facility without a Unique Identification Marking (UIM) as of November 11, which must be obtained from the licensee of FBR AJCL / MITAS / Authentix Consortium.
It is relevant to mention here that sugar is the second sector, after tobacco, where FBR will implement the electronic monitoring system of production and sales of goods at all manufacturing sites.
It should be mentioned here that sugar mills will start crushing sugar cane from November 15, in different parts of the country and the government expects a bumper crop of sugar cane during this season which will help to lower the prices of sugar on the domestic market.
On Sunday, Information and Broadcasting Minister Fawad Chaudhry said in a tweet that sugar prices had fallen to Rs 43 per kg.
At present, the ex-factory sugar level is around Rs 92 per kg in southern Punjab and according to a representative of the Pakistan Sugar Mills Association (PSMA), prices will drop further to Rs 10 in the next few days when production starts.