Financial Daily from THE HINDU group of publications
Sunday, Oct 10, 2004
Financial Daily from THE HINDU group of publications Sunday, Oct 10, 2004 |
||
|
|
||
|
Home Page
-
Metals Government - Industrial Policy Industry & Economy - Exports & Imports Govt tightens metallic scrap import policy K.R. Srivats
New Delhi , Oct. 9 THE Government on Saturday tightened the policy and procedures for import of metallic waste and scrap. The move is being seen as the fall-out of the recent explosion at the Ghaziabad facility of Bhushan Steel. Live shells forming part of the imported metallic scrap consignments exploded at the manufacturing facility in the last week of September and killed ten persons besides injuring nine. The Directorate General of Foreign Trade (DGFT) has now altered the import policy to specify that import of metallic waste and scrap would be permitted only in the "shredded and compacted form" (imports can be undertaken through all ports without any licence). However, metallic waste and scrap in the "unshredded and uncompacted form" can also be imported as long as the imports are routed through "major ports" (there are around 12 major ports in the country) and the Inland Container Depot at Tughalakabad, New Delhi. Customs authorities have now been authorised to carry out 100 per cent inspection of such unshredded and uncompacted materials coming through this route, sources said. Further, the Government has put in place certain restrictions on imports of metallic scrap originating in a country that is affected by "rebellion". These norms are on the same lines as those specified for the import of metallic scrap from countries affected by war. An exporter of metallic scrap from a country affected by "rebellion" will now be required to furnish certain documents including pre-inspection certificate (from an agency approved by Government) to the customs at the time of clearance of goods. An undertaking stating that the consignment does not contain any type of arms, ammunition, mines, shells, cartridges, radioactive contaminated or any explosive material in any form (either used or otherwise) must also be submitted.
More Stories on : Metals | Industrial Policy | Exports & Imports
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|