KARACHI: The State Bank of Pakistan (SBP) has urged the dealers to start wheat export subsidy claims and also directed banks and non-bank financial institutions in this regard following the directives of the Ministry of National Food Security and Research.
The State Bank issued mechanism for the subsidy payments claims, saying authorised dealers in foreign exchange to forward the requests of the wheat/wheat flour exporters to the foreign exchange operation department of or the chief manager, field office of SBP, banking services corporation (BSC) for approval.
According to the SBP circular, the exporters require to provide a letter from food department of respective provincial government, confirming procurement of specific quantity of wheat/wheat flour along with e-form.
The government allowed the export of 1.2 million tons of wheat this year as the country expects to harvest a bumper crop. The government has also granted $55/ton rebate on wheat export from the Punjab and $45/ton on wheat export from Sindh.
