Circulars/Notifications - Exchange Policy Department  
 FE Circular No. 05 of 2006
May 09, 2006 

The Head/Principal Offices of all
Authorized Dealers in Foreign Exchange

Dear Sir / Madam,

Import of Cement and Disbursement of Freight Subsidy

In terms of the decision made by Economic Coordination Committee (ECC) of the Cabinet in case No. ECC - 69/4/2006, dated April 14, 2006, import of cement from all countries including India by rail, road and sea, has been allowed. Further, freight subsidy of Rs. 60/- per 50 Kg bag of imported cement has also been allowed in terms of Ministry of Industries, Production and Special Incentives, Government of Pakistan’s letter dated April 28, 2006. Accordingly, Authorised Dealers are advised to process the freight subsidy claims on imported cement as per the procedure given below:
a) 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 60 days from the date of clearance of consignment from the Customs.
b) 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.
c) 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.

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

Yours faithfully,


(Azhar Kureshi)

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