Regulatory Alerts2019-01-09
Added · Updated
FEPD Circular No. 06: Import of unprocessed yarn on deferred payment basis
The usance period for the import of unprocessed yarn on deferred payment basis is enhanced from 180 days to 270 days for industrial importers producing outputs for local delivery against back-to-back letters of credit. This extension applies to imports within the limits of the factory's production capacity set by the Department of Textiles or up to the foreign currency delivery value realized in the last twelve months, whichever is lower. Authorized Dealers are permitted to arrange refinance under buyer’s credit for 90 days to settle EDF loans used for such imports on an 180-day usance basis.
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