In order to encourage exports to Kenya through a Warehousing Scheme, to be announced by the Export Promotion Bureau, it has been decided to facilitate the exporters utilizing EPB’s Warehousing Scheme in Kenya as under: -

• Exporters will be allowed enhancement in period for repartition of export proceeds from existing 180 days to 270 days.
• It will be permissible for the exporters to reduce prices on the unsold stock. General permission will be granted up to a discount of 15%, if the goods are not sold. Beyond this limit, SBP’s approval will be required on a case-to-case basis.
• Present retention percentage of 10% of FOB value of goods realized in terms of para 32 (III) of Chapter XII of FE Manual, would be enhanced to 25% in case of export through the Warehousing Scheme.

Authorized Dealers are advised to bring the above to the notice of their constituents.