TH ECONOMI WEEKL Y Marc    Our Calcutta Letter Anticlima t Trad Agreemen t Closur o Jut Mill s URIN th las coupl o days  Expor Contro i Calcutt ha s no bee passin th challan pre sente t i fo expor o
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TH ECONOMI WEEKL Y Marc Our Calcutta Letter Anticlima t Trad Agreemen t Closur o Jut Mill s URIN th las coupl o days Expor Contro i Calcutt ha s no bee passin th challan pre sente t i fo expor o

Thi i no normall significan as durin th tim o th Budget offi cer an staf ar bus wit helpin g th Minister t fac th Parliament Bu tw days delayo more i t ma be i strikin an knowin g wha risk i mean fo urgen ship ments th marke speculate tha t ther i

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TH ECONOMI WEEKL Y Marc Our Calcutta Letter Anticlima t Trad Agreemen t Closur o Jut Mill s URIN th las coupl o days Expor Contro i Calcutt ha s no bee passin th challan pre sente t i fo expor o




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Presentation on theme: "TH ECONOMI WEEKL Y Marc Our Calcutta Letter Anticlima t Trad Agreemen t Closur o Jut Mill s URIN th las coupl o days Expor Contro i Calcutt ha s no bee passin th challan pre sente t i fo expor o"— Presentation transcript:


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TH ECONOMI WEEKL Y Marc 10 195 1 Our Calcutta Letter Anti-clima t Trad Agreemen t Closur o Jut Mill s URIN th las coupl o days , Expor Contro i Calcutt ha s no bee passin th challan pre sente t i fo expor o jut goods . Thi i no normall significan as , durin th tim o th Budget offi cer an staf ar bus wit helpin g th Minister t fac th Parliament . Bu tw days delay—o more i t ma be i strikin an knowin g wha risk i mean fo urgen ship ments th marke speculate tha t ther i somethin els tha Parlia men engagin th attentio o Ex por Control Ther ar precedent s sho tha challan ar onl hel

d whe a increas i expor dut y abou t b announced Coul i t tha now Clearly no eve th e mos optimisti hol tha ther i s an furthe scop fo increase i n dut o hessian Perhap th tax abl limi ha bee reache o eve n bee over-shot Bu sackin dut i s stil suppose t b comparativel y low Hence ther i believe t b e fai chanc fo a upwar revi sio o th expor dut o sackin g alon wit decontrol whe i comes . Regardin decontro itself th e positio i stil uncertain I woul d appea tha th Governmen ha s alread vote i favou o decon tro whe i wa understoo tha t Pakista woul no agree t any thin les tha a ful recognitio o

f it rupee Authorit i a th sam e tim concerne abou tw thing s tha ma follo decontrol On i s th probabl limi t whic jut an d jut good price woul jump Th e Governmen want t b assure tha t th consequen inflatio woul no t unmanageable O course ther e als th genera apprehensio that , th lon run hig cost-hig pric jut good migh spel doo fo r th jut industry contingenc y whic th Governmen want t o avoid . Th othe i th increase bill th e Governmen woul hav t meet , fo it ow requirement o jut e good no o order i th even o f decontrol Thi total 60,00 tons . Th Secretar o th Ministr con cerned alon wit a

representativ e fro th Ministr o Finance wa s Calcutt fo a couple o day las t wee soundin th variou interest s an gettin thei reactions Th e majorit o thos who h me ar e reporte t hav bee i favou o f outrigh decontrol bot o jut an d jut goods The woul appea t o thin tha althoug fo th momen t price woul rise the woul no t lon continu t d so i th fac e th possibl contro o burla p price i th Unite States an d mor certainly o mill goin bac k 4 hours wee o productio n whic the hav promise t do . betwee consumers resistanc an d augmentatio o supplies th majo rit opinio i Calcutt hold tha t th

situatio woul soo stabilis o n it own Th stag is therefore se t fo decontrol . th matte o supplie t th e Governmen a controlle prices i t woul appea tha ther wa a ple a fo subsidisin a quantit o ra jut e obtainabl fro Indi o Pakista n mee thi demand Havin hear d tha th Governmen wa totall se t agains this thre representative o f th industr ar leavin fo Ne w Delh t hol furthe consultation s wit th Governmen an decid e on wa o th other . Th te days closur o th mill s apparentl a anti-climax comin g suddenl afte th Indo-Pakistan i agreement N doub thos wh o hav surplu jut an who there fore ma b

compelled unde th e relevan Wes Benga Act t shar e wit th less fortunate d gai b y thi immediat cessatio o work . Th pressur o th provision o th e Ac woul b less Bu stock o ra w jut hav bee deplete consider abl an th crisi wa lon coming . Th closur woul giv tim t th e mill t d thei best i th mean while t replenis themselve wit h whateve jut i immediatel avail able whethe fro Indi o fro m Pakistan Further excep tha i t ha bee ordere soone thi yea r tha i previou years th " bloc k closur " i customar an i i no t anythin unusual Bu on consequ enc o i i tha i postpone th e da o deliveranc fro th

presen t bul gri o th spo market . Ind - Pakista Trad e Agreemen t positio regardin good s whic ar no specificall men tione i th schedule attache t o th lndo-Pakista Trad Agreemen t ha bee clarifie b a pres not e issue b th Ministr o Commerc e an Industry Suc good ar cover b th provision o Articl V o f th Agreemen whic state tha t expor an impor facilitie wil b e grante b eac countr t th e othe whic shal b n less favour abl tha thos applie t an othe r countr i th sterling/sof currenc y area Bot Government hav agree d tha curren an futur impor an d expor licence i respec o sterlin g an sof

currenc are countrie s shal b vali fo Indi an Pakista n th cas ma be . exporte desirou o sendin a particula ite t Pakista wil hav e compl wit th relevan expor t regulation i forc i respec o f tha ite fo export t sof currenc y countries A th sam tim th e importe o th ite i Pakista n wil hav t compl wit th rele van impor regulation o Pakista n respec o th item . 24 9