Regulatory Alerts2020-04-20
Added · Updated
Import of raw materials on 360 days usance basis for Power Generating Enterprises
This circular clarifies that the 360-day usance period for importing industrial raw materials on a deferred payment basis, previously established for power generating enterprises, also applies to the import of Heavy Furnace Oil (HFO) and High Sulphur Fuel Oil (HSFO). Power generating enterprises may import these fuels as raw materials for their own use through nominated entities, provided they obtain specific approval from the Ministry of Power, Energy and Mineral Resources. All other relevant instructions regarding import transactions remain unchanged.
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