KARACHI (February 26 2004): The Export Promotion Bureau notified on Wednesday that the 25 percent concession approved by the Government of Pakistan on the actual freight paid on export of 250,000 tons potatoes, effected during the period February 26, 2004, to April 30, 2004, would be granted to those firms/companies who export potatoes during this period on first-cum-first-served basis.

Freight concession will be available on the export of potatoes to all destinations and on all shipping/air lines.

The following procedure shall be followed for payment of 25 percent freight concession:

a) Exporters will lodge their claims of freight concessions with their banks on the prescribed Pro forma, duly supported by the following documents:-

i) Copy of Shipping/Airway bill(s) duly certified by authorised signatory of concerned Shipping/Air Lines certifying that the shipment has been effected on vessel/flight No.

ii) Copy of Invoice, Form 'E' and Export Proceeds Realisation certificates duly certified by the respective banks.

h) The claim(s) will be lodged by the exporter(s) within 60 days of actual realisation of export proceeds of relevant shipment(s). The exporter(s)' bank shall submit the Claim(s) to National Bank of Pakistan, FTC Branch, Karachi, after examination/verification of prescribed documents, within 10 days of the receipt of claim(s) from the exporter(s) concerned.

i) In case of receipt of 'Advance Payment', the claim(s) may be lodged by the exporter with his bank within 60 days of shipment. The exporter's bank shall submit the claim(s) to National Bank of Pakistan, FTC Branch Karachi, after examination/verification of prescribed documents, within 10 days of the receipt of claim(s) from the exporter concerned.

j) In case of any discrepancy noticed by National Bank of Pakistan, FTC Branch, the bank shall immediately submit the discrepant claim(s) to the 'Freight Committee' comprising representatives of NBP and EPB. The 'Freight Committee' will scrutinise and decide the discrepant/disputed claim(s).

k) Time-barred claim(s) will not be entertained by the Bank(s). The exporter's bank shall forward such time-barred claim(s) directly to EPB, which shall place the same (time-barred claims) before the 'Freight Committee' for consideration. The 'Freight Committee' shall examine and decide the time-barred claim(s) on case to case basis.

l) The exporter's bank shall be responsible for meticulous examination/scrutiny of the prescribed document mentioned under Para-3 / (a) above and ensure that the claim(s) sent by it to National Bank of Pakistan, FTC Branch, Karachi, were in order in all respects and no discrepancy/irregularity or violation of rules, was involved in such claim(s).

m) The Freight concession will be applicable on actual shipment from February 26, 2004.-PR.

Courtesy Business Recorder