REGISTERED No. D. 221
The Gazette of India
EXTRAORDINARY
PART I—Section 1
PUBLISHED BY AUTHORITY
No. 198 NEW DELHI, THURSDAY, AUGUST 30, 1973/BHADRA 8, 1895
Separate paging is given to this Part in order that it may be filed
as a separate compilation
MINISTRY OF COMMERCE
PUBLIC NOTICE
IMPORT TRADE CONTROL
New Delhi, the 30th August 1973
SUBJECT.—Supply of imported steel for export Production.
No. 14]-ITC(PN)/73.—Attention of all registered exporters is invited to the Ministry of Commerce Public Notice No, 86-ITC(PN)/73, dated the 5th June 1973 and No. 105-ITC(PN)/73, dated the 23rd June, 1973 on the subject mentioned above,
2. In partial modification of the provisions contained in para 4 of the Ministry of Commerce Public Notice No. 86-ITC(PN)/73. dated 5th June, 1973, it has been decided that the Hindustan Steel Ltd. would give an indication of the c.i.f prices of various steel items, permissible for import under Public Notice No. 56-ITC(PN)/ 72, dated 18th April, 1972, by notifying the c.i.f. prices effective for two monthly periods on the basis of the international prices ruling in the General Currency Area, On the basis of these prices, the Engineering Export Promotion Council, Calcutta, would scrutinise the contracts and would entertain only those contracts where the f.o.b. value of exports would be atleast 25 per cent higher than the c.i.f. value of all imported inputs including steel required for the fabrication of the export pro- ducts. For steel, this determination would be made by taking into consideration the entire quantum of steel required, irrespective of whether the steel requirements are obtained from indigenous or imported supplies. The D.G.T.D. Engineering Export Promotion (Cell) would make a further general scrutiny of the value add- ed before recommending supply of imported steel under the Ministry of Com- merce Public Notice No, 105-ITC(PN)/73. dated 23rd June, 1973.
( 1203)
1204 THE GAZETTE OF INDIA EXTRAORDINARY [PAHT I—SEC. 113. The following points are also clarified in this connection; —
(i) A single export contract, concluded prior to 5th June, 1973 should bo honoured only to the extent of letter of credit established' before 5th June, 1973.
(il) Against an export contract, concluded by 5th June, 1973 but not supported by letter of credit, the Hindustan Steel Ltd, will supply material at the normal prices subject to the condition that refund of excess prices charged would be allowed if within a period of 45 days, the party renegotiates the contract so as to obtain a minimum of 25 per cent value added and produces the amended contract duly recommended by the EEPC and the DGTD.
(iii) As notified in public Notice No. 130-ITC(PN)/73, dated 8th August, 1973, the provisions of Public Notices No. 86-ITC(PN)/73. dated 5th June, 1973 and No. 105-ITC(PN)/73, dated 23rd June, 1973 will not be appli- cable in cases of supply of imported steel under Public Notice No 192- ITC(PN)/72, dated 23rd December, 1972 for the execution of orders Including Stale Electricity Boards and financed under IDA Credit.
(iv) In cases of export contracts financed under IBRD/Asian Development Bank, the provisions of Public Notices No. 86-ITC(PN)/73, dated the 5th June, 1973, and No. lOS-ITC(PN)/73, dated 23rd June, 1973 will also not be applicable if the submission of the bid In, response to the tender issued under IBRD/ADB loans was prior to the 5th June, 1973. (v) Jn case^ of export contracts financed under IBRD/ADB and where the bids have been made on or after the 5th June, 1973, it has been decided to supply imported steel under Public Notice No. 56-ITC(PN)/72, dated the 18th April, 1972 when the value added is a minimum of 20 per cent (and no* 25 per cent) in the interest of developing contacts abroad as also securing on a continuing basis, as large a proportion of the busi- ness generated by these International institutions as possible.
(vl) The stipulations contained in sub-paras (Iv) and (v) above will also be applicable to contracts secured in response to tenders Issued by foreign governments and public utilities even when they are not financed by the international institutions.
S. G. BOSE MXILLICK,
Chief Controller of Imports & Exports
K-ART I—SEC. 1] THE GAZETTE OF INDIA EXTRAORDINARY 1 2 05 1206 THE GAZETTE OF INDIA EXTRAORDINARY [PABT I—SEC. 1]PRINTED BY THE MANAGER. C O V E I I N M E N T' OF INDTA PRESS. MINTO ROAD N I '" DEI HI AND PUBLISHED BY THE CONTROLLER OF PUBLICATIONS, DELHI, 1 9 73