Govt extends export entitlement quota on garments, yarn for 1 yr
The Dollar Business Bureau
Government has extended the entitlement quota for one year in the export of readymade garments, knitwear, yarn, fabrics and made-ups to the countries of Canada, US, and European Union. This will be effective from January 1, 2017.
“The government hereby decides to extend the operation of the residuary provisions of yarn, fabrics & made-ups export entitlement (quota) policy for a further one year with effect from January 1, 2017,” the Textiles Ministry said in a notification.
Likewise, the government has also extended the operations of residuary provisions of export entitlement quota policy of garments and knitwears for another year, which will be effective from January 1, 2017.
The export entitlement policy for garments and knitwears is applied for countries where such types of exports are covered by restraints under the agreement on clothing and textiles provisions.
Export entitlements will be provided only to the exporters who are registered with the competent authorities according to the export-import rules prevailing from time-to-time.
The quantities that are provided from time-to-time with regard to flexibilities, surrenders or otherwise shall also be given under the system of First Come First Served. Basis.
Earlier, the government had decided to impose the operation of residuary provisions of export entitlement (quota) policy for knitwears and garments, for yarn, fabrics and made-ups for a year to be effective from January 1, 2005, which wasn’t extended from time-to-time.
These residuary provisions have been extended till December 31, 2016.