The Head/Principal Offices of all

Authorized Dealers in Foreign Exchange

Dear Sirs/Madam,

PROCEDURE FOR DISBURSEMENT OF SUBSIDY ON PHOSPHATIC AND POTASSIC FERTILIZERS DURING RABI 2006-07

In terms of Ministry of Food, Agriculture and Livestock’s Public Notice No. 7-1/2006-Fert dated 29th September, 2006, subsidy on phosphatic and potassic fertilizers during Rabi 2006-07 would be allowed as per details provided therein.

Accordingly, Authorized Dealers are advised to process the subsidy claims on phosphatic and potassic fertilizers, while strictly observing the terms and conditions mentioned in the Public Notice, as per the procedure given below:

1. Importers will lodge their claims along with the import documents (including invoices, copy of contract/LC, Bill of Entry/GD Form, Truck/Railway Receipt, Bill of Lading, etc) to their bankers within 30 days from the date of clearance of consignment from the Customs.
2. Authorized Dealers will examine, process, recommend and forward the claim within 3 working days of its receipt to the concerned Field Office, SBP-Banking Services Corporation, for payment.
3. Field Office, SBP-Banking Services Corporation, on the basis of Authorized Dealers’ certification will credit their accounts with the claimed amounts within 3 working days of receipt of claims for onward disbursement to the concerned importer immediately.

Copy of the above-mentioned Public Notice is enclosed.

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