US embargo: terms for compensation

Published November 27, 2004

KARACHI, Nov 26: The Textile Quota Management Directorate of EPB will provide facilities or compensate the exporters in such categories where the US government will impose embargo.

According to TQMD here on Friday, the Bureau will provide these facilities subject to the prescribed condition. The EPB will facilitate air lifting of the consignment of such exporters who could not ship their goods to the US in the embargoed categories.

EPB will arrange air lifting by the PIA of this cargo from Karachi to New York. The period of this air lifting facility will be offered from January 1 to 20, 2005. To qualify for this facility the exporters will need to submit confirmed orders L/C, shipment schedule and proof of balance quota in the respective category pass book of the exporter.

The Bureau has advised exporters to immediately apply to DG (Textile) EPB Karachi for availing these facilities. For goods which have already reached the US and will be denied entry due to embargo, the facility of freight subsidy (by sea/land) would be provided for routing the blocked consignments to the next port of destination if exporters so desire.

This facility will be provided only after embargo is announced and proof of denied entry by US government is submitted to the EPB. If exporters want to surrender their quota in the over-shipped US categories and request equivalent quota in other categories, the EPB will allow the swap with other categories for which terms and conditions will be announced shortly. -APP

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