Procedure for freight subsidy notified: Cement import
By Our Reporter
ISLAMABAD, April 28: The government has notified a procedure for importers to lodge claims for obtaining freight subsidy against duty-free import of cement.
The Economic Coordination Committee (ECC) of the cabinet had recently approved freight subsidy of Rs60 per 50 kg bag of cement to improve the supply of cement to the domestic market and bring prices down, which has witnessed a sharp increase and created crisis.
According to the procedure issued by the ministry of industries, production and special initiatives on Thursday, importers could now lodge their claims along with required documents at their banks within 60 days of the clearance of consignments from the customs.
However, they would have to show documents related to the import of cement including invoice, copy of contract, letter of credit (LC), bill of entry and receipts of the commodity transported through trucks, railways etc.
The commercial banks would examine process, recommend and forward the claims within three working days after receiving them to the concerned field offices of the State Bank of Pakistan (SBP) for payment.
The field offices of SBP, on the basis of the bank’s certification, will debit relevant head of the government account and will credit the bank account with the claimed amount within three working days of the receipt of claims from the bank for onwards disbursement to the concerned importers immediately.
Pakistan on Wednesday formally allowed duty and tax-free import of cement and clinker from India.
