IMPORT REGULATION

Wairarapa Times-Age, 2 October 1939, Page 7

IMPORT REGULATION

QUESTION OF HIGHER COSTS.

NO ADDITIONAL LICENCES. (By Telegraph—Press Association.) WELLINGTON, This Day. Additional import licences to offset the recent increases in freight and other charges, higher costs arising from exchange fluctuations, and also dearer prices overseas, will not ■be granted by the Government on account of the present position of New Zealand’s overseas funds. A statement to this effect was made on Saturday by the Minister of Finance. Mr Nash, who said that in the case of essential goods however, applications would be considered on their merits.

The Minister said that inquiries had been received as to whether some allowance could be made in the amounts for which import licences had been granted to offset the various increases in importers’ costs. The licences had been granted having regard to the the amount of overseas funds which would be available for such purposes over a certain period. It was regretted that the present position of overseas funds would not permit additional licences being granted, and importers should take all care necessary to ensure that their licences were not exceeded.

It it were found that imports of essential materials were seriously affected the question of granting facilities for the importation of requirements would be considered, he added. Each case would be dealt with on its merits. Mr Nash said that as far as the exchange factor was concerned, it was proposed to accept for the purpose of converting foreign currencies in determining the value to be endorsed on import licences the rate ruling at the date of shipment from the exporting country. Except in the case of essential goods applications in respect of which would be considered on their merits, additional licences could not be granted to offset increases in value due to the exchange factor.