Trade body hails relief package for exporters
SRTEPC has welcomed the revised rates of duty drawback and DEPB scheme announced by the government and said the package may help recover some losses.
By PTI |
MUMBAI: The Synthetic & Rayon Textiles Export Promotion Council (SRTEPC) has welcomed the revised rates of duty drawback and DEPB scheme announced by the government and said the package may help recover some losses.
"We are happy that the government has made an attempt to address the problems faced by the man-made fibre textiles exporters. The new rates, which have been enhanced by 2-3 per cent is an improvement, but is much below the five per cent the exporting community was expecting," SRTEPC Chairman Sanjeev Saran said here today.
However, he complimented the authorities for making the rates applicable with retrospective effect from April 1, 2007, which he said would be welcomed by all exporters.
Dwelling on the revised DEPB (duty entitlement pass book) rates, which have been increased by 3 per cent, Saran said the government has not factored in the four per cent SAD (special additional duty) and duty on fuel in the revised rates.
He urged the government to introduce a suitable mechanism to reimburse exporters.
"Another welcome step is the reduction in the interest rate by two per cent but this should not be restricted to December 31, 2007, but should be continued," he said.
"It appears the reduction of 10 per cent in ECGC (Export Credit Guarantee Corporation) premium is yet to be notified," Saran said.
"We are happy that the government has made an attempt to address the problems faced by the man-made fibre textiles exporters. The new rates, which have been enhanced by 2-3 per cent is an improvement, but is much below the five per cent the exporting community was expecting," SRTEPC Chairman Sanjeev Saran said here today.
However, he complimented the authorities for making the rates applicable with retrospective effect from April 1, 2007, which he said would be welcomed by all exporters.
Dwelling on the revised DEPB (duty entitlement pass book) rates, which have been increased by 3 per cent, Saran said the government has not factored in the four per cent SAD (special additional duty) and duty on fuel in the revised rates.
He urged the government to introduce a suitable mechanism to reimburse exporters.
"Another welcome step is the reduction in the interest rate by two per cent but this should not be restricted to December 31, 2007, but should be continued," he said.
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"It appears the reduction of 10 per cent in ECGC (Export Credit Guarantee Corporation) premium is yet to be notified," Saran said.
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