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Pharma sector resents rider to convert Vabal to Qabal.
Byline: Sudha Nagaraj
: The pharmaceuticals sector has rejected the government's clarification on the vexed issue of grant of one-time six-month extension given to advance licence-holders to meet their export obligations.
In a letter to the director-general of foreign trade (DGFT) last week, the Indian Drug Manufacturers' Association (IDMA) has said that the public notice cited by the DGFT had included a rider that Value-Based Advance Licences (VABAL) should first be converted to Quantity-Based Advance Licences (QABAL) to avail of the extension.
ET had reported the problem faced by VABAL exporters as they had been excluded from the six-month extension granted by the commerce ministry in 1997. The notification only covered advanced licences issued after April 1, 1997. The VABAL beneficiaries between 1992-97 had been left out and have approached the government for a solution.
The Indian Drug Manufacturers' Association (IDMA) received a letter earlier this month from the DGFT clarifying that a Public Notice dated April 6, 1999, had taken care of licences issued prior to April 1, 1997, as well.
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