CAPEXCIL urges for export incentives

Mumbai, June 14 (UNI) The third largest export promotion council, Chemical and Allied Product Export promotion Council (CAPEXIL) western region, has urged Union Finance Minister P Chidambaram to issue a notification on various export incentives as announced by Union Commerce Minister Kamal Nath.

CAPEXIL vice chairman Bhavanji H Patel told reporters here today that over 80 per cent small and medium enterprises members of CAPEXIL have suffered over crores of rupees since the last two months, coupled with an appreciating rupee that quoted at around Rs 40.80 per USD as against Rs 45/46 two months back.

He further stressed that the Reserve Bank of India (RBI) should urgently intervene to mop up extra US dollar from forex market. When Inflation is under control and below five per cent, then RBI and related agencies should urgently take steps to remedy the situation.

Meanwhile, CAPEXIL western region chairman M F Vohra said, ''The anti dumping duty on import of raw rubber should be immediately scrapped.'' He urged the Union and State governments to release various funds for exporters. This has reflected on exporters working capital fund since the last one year, he said.

UNI