The Gazette of India
EXTRAORDINARY
PART I—Section 1
PUBLISHED BY AUTHORITY
No. 255] NEW DELHI, SATURDAY, NOVEMBER 18, 1972/KARTIKA 27, 1894
Separate paging is given to this Part in order that it may be filed
as a separate compilation
MINISTRY OF FOREIGN TRADE
PUBLIC NOTICE
IMPORT TRADE CONTROL
New Delhi, the 18th November l'J72
SUBJECT.—Procurement of imported materials by actual users, through Steel Bank.
No 165-ITC(PN)/72.—Attention is invited to para 2 of the Ministry of Foreign Trade Public- Notice No. 126-ITC(PN)/72 dated the 26th August, 1972 in terms of which the stocks of approved categories of steel maintained in the Steel Bank would be used for meeting the requirements of priority units off-the-shelf against valid import Licence/release orders held by them or against foreign exchange allocations, made by the Ministry of Finance (Department of Economic Affairs) tor release of steel material from the Steel Bank to project authorities.
2, In this connection, it is clarified that the facilities of the Steel Bank can be availed of by project authorities whose demands are of priority nature certified as such by the administrative ministries/sponsoring authorities and where re- quirements cannot wait for normal import procedures.. The expression '-priority units", referred to above, does not refer to "Priority Industries", as listed in Appendix I in the Import Trade Control Policy (Red Book, Vol. I) for April. 1972—March, 1973 but to projects deemed to be of importance. The objective of the scheme is to help reduce delays in matching priority demands with actual availability in terms of time in the execution of major projects and also in the fabrication of machinery and equipment for such projects etc.
1874 T HE GAZETTE OF TNDiA EXTRAORDINARY [PART I—SEC. 1]