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Fuel for export products to cost less

EXIM POLICY

In a bid to neutralise high fuel costs, the Exim Policy has announced rebate on fuel costs for all export products.

This step by way of Standard Input Output Norms would enhance the cost competitiveness of export products, Commerce Minister Murasoli Maran said, adding the value of fuel would be permitted as percentage of Free on Board value of exports.

Among the export products, highest rebate of seven per cent is allowed for refractory items, ferrous engineering products manufactured through forging/casting process and fibre to fabric/made-ups/ garments.

Bulk drugs and drug intermediaries, glass, ceramic products, paper made from wood pulp/waste paper, pesticides/pesticides formulation from basic stage and plastic and plastic products would be allowed five per cent of value of fuel as a percentage of FOB value.

The value of fuel as a percentage of FOB would be allowed to dye and dye intermediaries, non-ferrous basic metal and fibre to yarn.

Yarn to fabric/made-ups/garments have been allowed three per cent.

ALSO READ:
The Exim Policy 2002-2003
The Rediff Budget Special
Money

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