IMPORTED GOODS

Gisborne Herald, Volume LXVI, Issue 20057, 2 October 1939, Page 10

IMPORTED GOODS

NO INCREASED LICENSES MINISTER’S STATEMENT OVERSEAS FUNDS BASIS (■Per Press Association.) WELLINGTON, this clay. The Minister of Finance, the Hon. W. Nash, states that his attention has been dra'wvi to the effect the increases recently made in ’freight and other charges will have in the value of imports. Price increases have also taken place in certain cases, and inquiries have ’been received as to whether some allowance can be made in the amounts for which import licenses have been granted to effect such increases. ‘‘The position is, however,” says Mr. Nash, “that licenses h'ave been granted, having regard to the amount of overseas funds which will be available for such purposes, over a certain period. It is regretted that the present conditions with respect to overseas funds would not permit of additional licenses being granted, and importers- should accordingly take all care necessary to ensure that their licenses are not exceeded.” 'lf it .was found that imports of essential materials were seriously affected as a result of such factors, the question of granting facilities for the importation of requirements.would be considered, but each case could only be dealt with on its merits. ■Mr. Nash said that the position in regard to increased costs arising from the exchange was similar, except that the exchange was a variable factor, and the position at the time of remittance in payment for goods might be quite different from that obtaining at the time of importation. It was proposed, therefore, to accept, for the purpose of converting foreign currencies, the values endorsed on licenses at the rate of exchange ruling at the date of the shipment of the goods from the exporting country. He wanted it clearly understood, however, that except in a case of essential goods, application in respect to which would be considered on its merits, additional licenses could not be granted to /offset increases in