Naptha Import allowed to power sector as fuel - 25/1997 - Foreign Trade Policy

Naptha Import allowed to power sector as fuel Notification No. 25/1997 Dated 05/12/1997 In exercise of the powers conferred by section 5 of the Foreign Trade (Development and Regulation) Act, 1992 (No. 22 of 1992) read with paragraph 4.1 of Export and Import Policy, 1997-2002, the Central Government hereby makes the following amendments in the Export and Import Policy, 1997-2002 and ITC(HS) Classifications of Export and Import items 1997-2002, published on 31st March, 1997 and as amended from time to time. 1. In Export and Import policy in Chapter 15, Part II, Paragraph 15.2, section I, Miscellaneous items, Entry at Sl. No. 12 shall be substituted by the following:- 12. Naphtha (i) Import permitted without a licence subject to the condition that the importer shall sell the return stream of naphtha to crude oil refineries only. The sale will be on commercial terms as may be settled between the importer and the refinery. However, the importer may use the return stream as an industrial feed stock for his own captive consumption, but the balance left, if any, shall be sold to crude oil refineries only. (ii)Import of naphtha is also permitted as fuel for power sector by actual users in accordance with a Public Notice issued in this behalf." 2. The policy indicated against Sub-Exim Code 27100001.30 under Exim Code 27.10 in the ITC(HS) Classifications of Export and Import items, 1997-2002 shall be amended to read as under:- EXIM Code Item Description Policy Condition relating to the Policy Import under SIL / Public Notice 27100001.30 Naphtha Restricted (i)Import permitted without a licence subject to the condition that the importer shall sell the return stream of naphtha to crude oil refineries only. The sale will be on commercial terms as may be settled between the importer and the refinery. However, the importer may use the return stream as an industrial feed stock for his own captive consumption, but the balance left, if any, shall be Sold to crude oil refineries only. (ii) Import of naphtha is also permitted as fuel for power sector by actual users in accordance with a Public Notice issued in this behalf." 3. This issues in public interest.