STOCKS IN N.Z.

Press, Volume CI, Issue 29770, 13 March 1962, Page 16

STOCKS IN N.Z.

Last Quarter’s Figures

In spite of the fall in the level of imports since last October, provisional figures for the last quarter of 1961 showed that stocks were higher than a year before, said the Minister of Customs (Mr Shelton) when he released the import licensing schedule for 1962-63.

“For manufacturers, stocks are up 10.5 per cent., wholesalers’ stocks rose 8.4 per cent, and retailers’ 7.9 per cent..” Mr Shelton said. “These percentage increases represent a value of about £2sm but include both imported and locallyproduced stocks “It is realised that difficulties will arise for importers in tranriating the items of former licensing schedules into the new. To assist them the Customs Department is preparing a key which traces the relationship from the old form to the new. This document will be available shortly. “Warning"

••I wish to warn Importers that the tariff item numbers quoted in the new import licensing schedule relate to the publication entitled the Customs Tariff of New Zealand. 1962. and not to the first schedule of the Customs Acts Amendment Bill which was introduced into Parliament last year Many copies of this bill are held by the public but a number of amendments were subsequently made to that bill and confusion will occur if importers use that document rather than the new tariff in determining the scope of the import licensing items appearing in the Hcenee schedule.

“For certain items, notably printers’ ink, union textiles and infants' wear, th? tariff requires the Minister of Customs to make certain determinations as to the kind and class of goods to be admitted Provisional decisions have been made and details of those decisions are available from Collectors of Customs. In the case of infants’ wear, apparel of the classes listed in Customs Import Licensing Notice (No. 1), i 960, win be admissible under that licence items,” Mr Shelton said.