Rebates for high fuel cost neutralisation

new delhi: in a bid to neutrialise high fuel costs, the exim policy has announced rebate on fuel costs for all export products. this step by way of standard input output norms would enhance the cost competitiveness of export products, commerce minister mursoli maran said, adding the value of fuel would be permitted as percentage of free on board value of exports. among the export products, highest rebate of seven per cent is allowed for refractory items, ferrous engineering products manufactured through forging/casting process and fibre to fabric/madeups/ garments. bulk drugs and drug intermediaries, glass, ceramic products, paper made from wood pulp/wast paper, pesticides/ pesticides formulation from basic stage and plastic and plastic products would be allowed five per cent of value of fuel as a percentage of fob value. a four per cent value of fuel as a percentage of fob would be allowed to dye and dey intermediaries, non-ferrous basic metal and fibre to yarn. yarn to fibric/madeups/garments have been allowed three per cent.