LAHORE: Two local sugar mills have paid Rs140 million in cash to Federal Board of Revenue (FBR) as outstanding federal excise duty (FED) on sale of sugar, while remaining Rs127 million have been paid through post-dated cheques.
The managements of Haseeb Waqas Sugar Mills and Abdullah Sugar Mills pleaded that both the mills were facing huge loss because the cane price was announced by the government, fixing it at high level against the open market rate to support the growers.
The ‘tax fraud’ case is in appeal before Lahore High Court, which has served notices to FBR. However, the management claimed that the LHC has yet to decide whether the sugar mills committed any tax evasion.
