PEC floats tenders to import 1.2 lakh tonnes of maize
The Dollar Business Bureau Indian trading company PEC Ltd has sought international tenders to import 1.2 lakh tonnes of maize to increase the supply and control the rising prices in the country. PEC is a public sector undertaking under the Department of Commerce, Union Ministry of Commerce and Industry. To prevent hoarding, the Minister for Commerce and Industry Nirmala Sitharaman, has already approved inward shipment of 5 lakh tonnes of maize through the State Trading Corp, PEC Ltd under Tariff Rate Quota (TRQ) scheme. The Central government permits to import maize (along with three other products) at zero import duty, under the TRQ scheme. PEC has asked for two different tenders seeking 1.2 lakh tonnes of non-genetically modified maize and Friday is the last ...
Commerce & Customs departments must focus on implementation
Himanshu Vatsa | The Dollar Business Many operational issues related to exports and imports can be resolved through systematic coordination between the Commerce Ministry and Customs Department, said the Federation of Indian Export Organisations (FIEO). FIEO, however, said that the effectiveness of such interactions will lie in their implementation. “If there is an institutional mechanism which is effective, definitely it will help our trade in a big way because most of the issues between DGFT and Customs. And to that extent, the meeting will be very helpful. But the real essence of the committee will lie in its effectiveness,” said Ajay Sahai, Director General, FIEO. Earlier this week, the Directorate General of Foreign Trade (DGFT), a wing of the ...
