Import Licences To Be Adjusted
WELLINGTON, August 20. The unused portions of existing import licences will he reduced in most cases hy 20 per cent. following the alteration in the exchange rate, said the Minister of Finance (Mr. Nash) tonight. However, there rnight be some exceptions which would require consideration. Mr. Nash said that in order to hring the licences already issued into line with the new situation it was necessary that the amounts of any unusecl licences or any halances remaining on any -existing licences should he so adjusted that they represent the same amount of overseas exchange as they did befojfe the alteration of the exchange rate. The mcant that in general the unused portions of existing licences would, b$ reduced hy 20 per cent., hut there rnight he some exoeption requiring consideration. Mr. Nash said it wquld not he necessary to submit licences to Collectors of Customs for adjustment as this would he made when the licences were presented for endorsement 011 the entry of goods. Th,e Minister added that any further licences issued would take into aecount the new posation and would not he subject to adjhstment.
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Chronicle (Levin), 21 August 1948, Page 5
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191Import Licences To Be Adjusted Chronicle (Levin), 21 August 1948, Page 5
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