Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
  • Home
  • Islamabad
  • Karachi
  • Lahore
  • National
  • Transfers and Postings
  • Chambers & Associations
  • Business
No Result
View All Result
Customs Today
No Result
View All Result
Home International Customs Philippines

SBMA chair foils smuggling of P8-B sugar

byCT Report
30/12/2016
in Philippines
Share on FacebookShare on Twitter

MANILA: The Subic Bay Metropolitan Authority (SBMA) has prevented the smuggling of sugar imported from Thailand amounting to PHP 8 billion after it found that the shipment appeared suspicious and lacked proper documents. SBMA said the shipment of some 200,000 metric tons of refined white sugar from Thailand is scheduled to arrive December 23, at the Subic Bay Freeport.

SBMA Chairman Martin Diño has directed Trade Facilitation & Compliance Department officer-in-charge Robert Bana to recall the certificate of eligibility and admission permit issued in favor of Subic Bay Free Trade Center, Inc., an SBMA locator and importer of the prime commodity.

You might also like

Investors troop to year’s first RTB issue; P134 billion awarded

03/02/2020
People are seen going inside the ADB building in Ortigas, report said The Asian Development Bank expects to lend an estimated $7.8 billion, or nearly $2 billion annually, from 2018 to 2021, under a new six-year country partnership strategy.It would be the highest for any 4-year period, the Manila-based multilateral lender said Thursday.“The annual average also doubles the current estimated yearly lending pipeline,” the bank said in a statement.Photo by:Nonie Reyes

ADB raises $4.25 billion from US dollar bond market to boost OCR for 2020

21/01/2020

“Let me emphasize that I will have zero tolerance for any form of smuggling during my watch here at SBMA. Don’t mess with me. This is more than what a local sugar refinery can produce in one milling season,” said Dino of the 200,000 MT of refined white sugar from Thailand by a locator that has no capability to store the commodity.

Dino said that under the prevailing landed price of PHP2,000 per sack, the shipment of some FOUR million sacks would easily be worth PHP8 billion in the domestic market.

Dino dismissed the claim of the importer that the sugar is meant for transshipment, pointing out that smuggling syndicates had operated with impunity in previous years, thus depriving the government of much-needed resources for economic and social development.

Dino, a former chairman of the Volunteers Against Crime and Corruption (VACC), said he would go after smugglers operating in the freeport. “Smuggling is pure and simple economic sabotage. The Duterte administration needs all the revenues it can raise to fund an aggressive infrastructure development program and more efficient delivery of vital social services, especially education and health, to the disadvantaged sectors of the population,” he said.

He warned unscrupulous SBMA personnel that he would not hesitate to dismiss them if found to have participated in shenanigans at the Freeport.Dino said he has already ordered an investigation to get to the bottom of the smuggling attempt and to file the corresponding charges against all those responsible for the illicit operation.

“President Duterte is determined to stamp out not only the drug menace and criminality but also the scourge of corruption. We need the full support of everyone in bringing about real change in Philippine society in the years ahead,” he added.

Related Stories

Investors troop to year’s first RTB issue; P134 billion awarded

byadmin
03/02/2020

THE Bureau of the Treasury (BTr) has awarded an initial P134 billion worth of three-year retail treasury bonds (RTBs), which...

People are seen going inside the ADB building in Ortigas, report said The Asian Development Bank expects to lend an estimated $7.8 billion, or nearly $2 billion annually, from 2018 to 2021, under a new six-year country partnership strategy.It would be the highest for any 4-year period, the Manila-based multilateral lender said Thursday.“The annual average also doubles the current estimated yearly lending pipeline,” the bank said in a statement.Photo by:Nonie Reyes

ADB raises $4.25 billion from US dollar bond market to boost OCR for 2020

byadmin
21/01/2020

The Asian Development Bank (ADB) raised a total of $4.25 billion from the US dollar bond market on Wednesday. The...

Govt, oil firms cite progress vs fuel smuggling

byadmin
13/01/2020

GOVERNMENT and oil companies have cited progress in curbing smuggling through a fuel marking program as the Department of Finance...

A man uses two smartphones at once outside a Huawei store in Beijing Monday, May 20, 2019. Google is assuring users of Huawei smartphones the American company's services still will work on them following U.S. government restrictions on doing business with the Chinese tech giant. (AP Photo/Ng Han Guan)

Huawei to shake up executive ranks in 2020 as Trump curbs bite deeper

byadmin
02/01/2020

Huawei Technologies Co. will overhaul its executive ranks next year after revenue growth slowed further in the latter half of...

Next Post

Maersk to shut down Denmark’s largest gas production field

  • Terms and Conditions
  • Disclaimer

© 2011 Customs Today -World's first newspaper on customs. Customs Today.

No Result
View All Result
  • Transfers and Postings
  • Latest News
  • Karachi
  • Islamabad
  • Lahore
  • National
  • Chambers & Associations
  • Business
  • About Us

© 2011 Customs Today -World's first newspaper on customs. Customs Today.