Please refer to the Negative List attached to BPD Circular No. 05 dated 24th February 2003 regarding the above subject.

2. It is advised that commodity “Polyethylene Terephthalate (PET) Resin” (HS Code 3907.6020) has been included in the Negative List of Export Finance Scheme (EFS). Therefore, banks may not allow financing facilities against said commodity under EFS. These instructions shall be applicable with immediate effect.

3. It is further clarified that refinance already availed by the exporters against above commodity will remain valid upto maturity date of respective loan(s). Further, export performance will also be taken into account under Part-II of the Scheme against borrowing during 2009-10, for the purpose of entitlement of limit for FY 2010-2011.