Infrastructure to get focus in import policy
Infrastructure development will get focus in the import policy for 2015-18, which will be placed in today's meeting of the cabinet committee on economic affairs.
For instance, the Padma bridge project will require huge quantities of boulders and a proposal has been made to include land routes as well for import of boulders from India such that they arrive quickly.
Under the existing policy, boulders can be imported only through the river route.
The downside of the proposal is that it would put heavy pressure on the road system, driving up the maintenance cost, said an official of the commerce ministry.
Another provision that has been proposed is for allowing import of prime mover, dump truck, dumper, mixer lorry, self-loader and hydraulic crane that are more than five years old.
However, the items must have a lifespan of at least 10 years.
All registered importers and exporters will have to pay 15 percent value-added tax while taking registration certificates along with renewal fees.
The main objective of the policy is to make the import processes more business-friendly and compliant and in line with the pace of globalisation and free market economy.
It also aims to make import of capital machinery easier for expansion of modern technology.
To ensure food safety, a proposal has been made to ban import of various chemicals and insecticides.
Besides, to control sound pollution, import of horns above 75 decibel has been banned. While importing poultry feed, fish meal and fodder for cattle, the date of manufacture and expiry has to be mentioned.
Fish meal and protein concentrate can be imported provided they come with a certificate from a competent authority of the exporting country and that they are free of harmful chemicals including chromium and tannery by-products.
Software has been included as a new import product and it can be imported with the clearance of the ministry and with recommendation of the concerned trade body.
No-objection certificates from the information ministry will be required for importing foreign films. There is no such provision in the existing policy.
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