Centre announces 5 pc drawback rate on papier mache items

New Delhi, Dec 7 (UNI) The Centre today announced a slew of measures for Jammu and Kashmir, including 5 per cent drawback rate on decorative papier mache articles.

This follows a request made by a delegation of Kashmir Chamber of Commerce and Industry during its meeting with Minister of State for Commerce Jairam Ramesh here recently.

The Chamber representatives had sought hiking of the drawback rates for carpets and shawls and for inclusion of papier mache in the list of items eligible for drawback rate, an official spokesperson said here today.

Subsequently, the Department of Revenue after considering the issues recommended a drawback rate of 5 per cent on decorative handicraft articles made out of papier mache.

The Kashmir Chamber of Commerce and Industry had also requested for grant of financial assistance under MAI/MDA for participating in the Trade Fair at Dubai to be held from December 13, 2006 to February 9, 2007. The matter was taken up for action, and all formalities/requirements were completed. The Department of Commerce has also sanctioned Rs 50 lakh as MAI assistance to the Chamber for the purpose.

Mr Ramesh also assured the Chamber representatives of the Centre's support to establish an international exhibition-cum-convention centre in Srinagar and an Inland Container Depot (ICD) at Rangreth, Srinagar.

The Centre's contribution for the convention centre is to be Rs 15 crore while the balance Rs 10 crore will come from the state government.

UNI SD PV VV1805