20000109

Freight concession

on potato exports:

procedure announced

FAISALABAD: The Export Promotion Bureau (EPB) has announced the procedure for the payment of 25 percent freight concession on the export of potatoes.

The government has already approved 25 percent freight concession on export of 100,000 metric tonnes of potatoes during the period ranging from January 5 to September 30, 2000. This quantity is available for utilisation on first come first serve basis.

The EPB has advised the exporters of potatoes to register their contracts with its offices. However, the freight concession will be available to all destination and on all shipping lines.

According to the procedure laid down for the payment of 25 percent freight concession, the exporters will lodge their claims of freight concessions with their banks on prescribed forms supported with shipping bills duly certified by authorised signatory of shipping company and export proceeds realisation certificates etc.

The claims will be lodged by the exporters within 60 days of actual realisation of export proceeds of shipment concerned and the exporter's bank will submit this to the National Bank of Pakistan FTC Branch within 10 days after verification of documents.

In case of advance payment, the claims may be lodged by the exporters to the bank within 60 days of shipment. The exporter's bank will submit the document within 10 days after verification of documents to NBP, FTC Branch Karachi.

In case of any discrepancy noticed by NBP, FTC Branch, the disputed claims received in this branch will be scrutinised by the Freight Committee comprising of NBP and EPB.

Time barred claims will not be entertained. However, exceptional cases of the exporters will be examined on case to case basis by the committee. Such claims will be forwarded by the exporters bank directly to EPB.

The exporters bank shall be responsible for scrutiny of the documents mentioned to ensure against any discrepancy, irregularity or violation of rules in submitting, freight concession claims of their clients.

The concession will however, be application on actual shipment from January 5, 2000.ÑAPP