In addition, all sugar mills make cuts in the weight of sugarcane from 15 to 30 per cent, he added. He said that it was found that total income tax of around 88 sugar mills of the country is Rs10bn, after getting a tax refund. Akbar said that the report revealed that certain sugar mills used informal receipts. “In 2017-18, sugar mills determined the cost of production at Rs51 per kilo whereas the report gave an estimate of Rs38 instead. “In 2018-19, sugar mills gave cost price at Rs52.60 while the report gave an estimate of Rs40.

Source: Pakistan Today May 21, 2020 17:48 UTC