20000213

Textile quota auction on March 2

RECORDER REPORT

KARACHI: The textile quota of various products for the USA, EU, Canada and Turkey will be allocated through auction to be held in the Textile Clothing Division of the Export Promotion Bureau at FTC in Karachi and all regional offices at Lahore, Faisalabad, Sialkot and Multan on March 2, 2000 at 3.00 p.m.

According to the conditions of eligibility announced by the EPB, the exporters having valid export registration under Registration (Importers and Exporters) Orders, 1952 as amended from time to time shall be allowed to take part in the auction.

Exporters having valid membership with textile associations authorised to deal with the products/category and garment manufacturing units located in Export Processing Zone can also participate in the auction. The premium shall be paid against foreign exchange encashment certificate.

Under the procedure laid down through a public notice, the interested exporters should submit their bids for the auction in sealed covers, indicating the auction price for each textile quota products/category. These should be deposited in sealed bid boxes placed at the Textile Clothing Division of the EPB at Karachi, Lahore,Faisalabad, Sialkot and Multan on March 2, 2000 till 3.00 p.m.

The bidders will be allocated quantities asked for but up to maximum of 20 percent of quantities offered in that category in the auction. In case the 20 perecent quantity is less than a commercial lot, then quantity up to a commercial lot will be allocated.

The exporters, who have purchased quota in an auction, will not be entitled to any compensation in case it is decided to open a category for allocation on first come first served (FCFS) basis subsequently.

Bids should be accompanied by a pay order or demand draft, equal to 30 percent of bid amount as earnest money, made out in the name of Accounts Officer (Textiles), EPB, Karachi. The bid not accompanied by earnest money will not be considered/entertained. Any bid below the minimum floor price will also be not considered.

Bids should be submitted on prescribed printed forms available from all EPB offices against payment of Rs. 10 per form with cover. The exporters are required to fill in the various columns of the forms clearly and attach copies of required documents.

The successful bidders will be allocated quota in descending order of auction price at their own bid price.