Trade Department under the Ministry of Commerce has unveiled three priority sectors for imports. The first priority sector covers pharmaceuticals, medical devices, fertilisers, pesticides, seeds, diesel, petrol, edible oil, raw materials used in livestock businesses, veterinary drugs, industrial raw materials, PET chips, food materials, plastic raw materials, medicine and herbal raw materials, packing materials, lubricants, engine oil, other industrial oil, tar and LPG gas. The importers are entitled to buy foreign currency to bring those items into the country.
The items on the second priority include iron and steel, paper and stationary, equipment for electricity generation, transmission and distribution, construction materials, machine and spare parts, tyre and rubber products, auto parts and accessories for telecommunication. Electronic goods, telephone, telecommunication device, telephone, food commodity, consumer goods, vehicle sfor commercial purpose and machineries are under the third priority sector.
This announcement represented further fine turning by the government to expedite the import processes while trying to maintain the balance of trade to avoid foreign currency shortage.
