| |
|
 |
| For business information, annual reports, laws, ordinances, regulations and articles. |
|
|
|
030531
STATE BANK OF PAKISTAN FOREIGN EXCHANGE DEPARTMENT KARACHI
F.E. Circular Letter
No. 9
/ EPP-1 (51) FS-2003
May 31, 2003
All Head Offices/Principal Offices of
Authorized Dealers in Foreign Exchange.
Dear Sirs,
25% FREIGHT SUBSIDY ON EXPORTS
In continuation of our
Circular letter No. 5/EPP-1 (51) FS-2003 date 8th April, 2003, Authorized
Dealers may please find enclosed a copy of Export Promotion Bureau’s Public
Notice No. 2(1)/2002-PPI dated the 6th May, 2003 for immediate implementation.
2. Please bring the above to the notice of your all constituents.
Encl. As above
Yours faithfully,
(SYED SAMAR HASNAIN)
Joint Director
EXPORT PROMOTION BUREAU
GOVERNMENT OF PAKISTAN
No. 2(1)/2002-PPI
PUBLIC NOTICE
Scheme for Freight Subsidy on Exports
The freight subsidy
scheme envisages the grant of 25% freight subsidy on all exports to countries to
which the average annual exports from Pakistan in the last three years,
1999-2000 to 2001-02, were not more than US$ 10 million. The list of eligible
countries for freight subsidy, as notified in the EPB Public Notice dt. 1st
January 2003, has been reviewed by the Freight Subsidy Review Committee in its
meeting held on 6th May 2003 in the Export Promotion Bureau. Since the average
annual exports to UAE in the last three years were more than US$ 10 million, AUE
and its component states are not eligible for the freight subsidy. States of UAE
have therefore been excluded from the list of eligible countries. Exports to
these destinations would not be eligible for freight subsidy on a country basis.
Similarly, since average exports to Yemen in the last three years were also more
than US$ 10 million, exports to Yemen, including the destination of Hadhrmaut,
would not be eligible for freight subsidy, on a country basis. The exclusion of
the above destinations from the freight subsidy eligibility will take immediate
effect. It is clarified that export products, which are already notified as
eligible for freight subsidy on a product basis, of which exports in any of the
last three years were not more than US$ 5 million, remain eligible for freight
subsidy to all destinations.
Sd/-
Dr. M. Usman
Deputy Director
Karachi, the 6th May 2003.
|
|
|
|
|
|
| Home | About Us | Contact | Information Resources |