M/s Premier Cables granted raw material imports at concessionary rates

KARACHI: M/s Premier Cables (Pvt) Limited has been provisionally allowed import of raw material on concessionary rate for manufacturing purpose.
According to the provisional certificate issued by Input-Output Coefficient Organization (IOCO), the unit, located in Karachi, had applied for the import of raw material at concessionary rates available under SRO 565(I)/2006 amended vide SRO 565(I)/2014 dated June 26, 2014.
The following raw materials for the manufacturing of optical fiber cables, as mentioned in the SRO are allowed to be imported at concessionary rate subject to the conditions:
— Single/Multi mode optical fiber (ITU-TG-652, ITU-G-651&ITU-I G-655), 6,875 kgs at 10 percent ad val.
— Poly butylenes b trephthalate (mbt), 50,625 kgs at 10 percent ad val.
— Fiber Reinforced poly propylene / Glass Reinforce poly proplylene, 30,000 kgs at 10 percent ad val.
— Binder Tape, 7,250 kgs at 10 percent ad val.
— Binder Yarn, 1,125 kgs at 10 percent ad val.
— Identification tape, PP Film/Filler/Tape, 250 kgs at 10 percent ad val.
The IOCO, however, said that the local manufacturing condition in respect of following items may be ascertained at the time of clearance by the collectorate as per description given in CGO 11/2007 dated August 28, 2007 and goods may be released if required as per condition of the CGO ibid under intimation to IOCO.
— Coloring Ink, 951 kgs at 10 percent ad val.
— Pigments, 495 kgs at 10 percent ad val.
— Polyethylene Compound, 328,125 kgs at 10 percent ad val.
— Aluminum Foil (Both Side PE Strips Laminated), 5,625 kgs at 10 percent ad val.
The IOCO said that that the certificate is being issued provisionally subject to the following conditions:
i. The provisional certificate is being issued on the basis of information, provided by applicants in accordance with SRO 565 as amended from time to time and shall be valid till June 30, 2015. However, in case PCT headings turn out to be different then the declared headings after examination at clearance stage, the clearance collectorate shall check the local manufacturing conditions as per CGO 11/2007 dated August 28, 2007 before allowing release of goods and shall inform IOCO accordingly.
ii. The raw materials shall be released against deposit of post dated cheque (PDC) for the differential amount of statutory rates of customs duty and concessionary rates of customs duty at the time of clearance by the respective Customs Collectorates.
iii. The import and clearance of raw materials as allowed under the SRO is restricted to Karachi Port only.
iv. All conditions and prerequisites of the SRO shall be fulfilled by the applicant for claiming concession under the certificate.
v. Issuance of the provisional certificate does not entitle for concession if such concession is either not covered under the SRO as amended from time to time or is barred under any other instructions, directive or order issued by the collectorate in this regard.
vi. The provisional certificate shall be cancelled retrospectively, without any notice, if it is found that the applicant has mis declared or concealed any materials facts.
vii. In case of withdrawal of concessions, the utilization of raw materials shall be subject to statutory rates of customs duty.
viii. The input materials mentioned herein shall be subject to all such conditions, limitations and restrictions with regard to their importability as are stipulated in the provisions of the Import Policy Order in vogue. Import conditions shall be checked at the time of clearance by respective collectorates.
The IOCO said that the applicant – M/s. Premier Cables (Pvt) Limited, Karachi – is required to observe all requisite formalities and furnishing of the information, as prescribed under the SRO required by the office, for determining the bonafide of the concessions sought by the applicant, failing which, necessary action shall be initiated, as required under the SRO and relevant provisions of Customs Act, 1969.

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