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April 2, 2001
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Money > Business Headlines > Report April 2, 2001 |
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Exim policy lacks export promotion measures: DEAThe Delhi exporters association (DEA), on Monday, criticized the Export-Import (Exim) policy for 2001-2002 and termed it as import oriented without any mention of export promotion measures. ''The entire exporting community is shocked and completely disappointed with no mention for export promotion in the recently announced Exim policy,'' said DEA president S P Agarwal. He said that the restriction on 715 additional items have been removed out of which 10 per cent was reserved for small-scale industries. The Exim policy will lead to closure of thousands of small and medium scale sector units which will create large-scale unemployment, Agarwal said in a news conference in Delhi adding that the move could even lead to social unrest across the country. ''The government has been taking shelter of World Trade Organisation (WTO) rules which envisage end of geographical marketing, whereas it has totally failed to provide the borderless movement of goods within the country,'' he said. Agarwal quoted section 13.9.1 of the WTO which calls for subsidies by underdeveloped countries with per capita income of less than $ 1,000 at the 1990 rate. The rule gives a period of eight years to phase out subsidies. The DEA president said that the government is withholding duty drawbacks totalling Rs 100 billion for the past five months. He urged the commerce ministry to immediately sort out the matter with the finance ministry. UNI |
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