ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Panyam Cement Plans Growth

Export Your Company, to whom the Honourable Minister of Commerce addressed an appeal during the year, decided to launch a crash programme of export to the Middle Eastern markets where ample scope exists. The result was an export sale of an ex-factory value of Rs 15 lakhs but involving a loss of over Rs 9 lakhs. One fact that emerged clearly is that our quality is fully acceptable and the market is wide. We were able to import on our export-incen- tive licence two badly-needed items of machinery which we could not have secured otherwise, but even this facility has been curtailed after devaluation. Obviously an industry dependent on imports which is trying to export must have adequate access to raw materials and machines on its own licences. The import entitlement which was 20 per cent of the fob value prior to devaluation has now been cut in half.. Further, the cash subsidy of 25 per cent of the f o b value operating before devaluation has now been revived but at only 17 per cent In the light of the need for more machines, it may become necessary to continue to export at greater sacrifice if only to secure the import entitlement.

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