Public Notice No. 68 dated 7^th March 2003

The EXIM Policy 1997-2002 provided replenishment (REP) licence for import of gold/ silver/ Platinum in respect of exports made during that policy period. In the EXIM Policy, 2002-2007 effective from 1.4.2002, this provision was discontinued and instead a provision for procuring these items from the nominated agencies was introduced. A transitional arrangement was also made for obtaining such supplies from the nominated agencies even in respect of export made on or before 31.3.2002.

Based on representation receive from the exporters, the time limit for obtaining replenishment of gold/ silver/ platinum from the nominated agencies was extended upto 31^st December 2002. Representations have again been received from exporters, MMTC as well as Gem and Jewellery Export Promotion Council to extend the time limit.

The matter has been considered. The Director General of Foreign Trade, in exercise of power conferred under paragraph 2.4 of the Exim policy 2002-2007, has permitted extension of the time limit for such exports effected on or before 31.3.2002 and effected under para 8.37 of the EXIM Policy 1997-2002 to obtain replenishment from the nominated agencies by 31^st March 2003. This is the last and final extension and no further extension shall be considered

The issues in Public interest.