DUTY-FREE SHOP
Mr Lake On Purpose
(From Our Own Reporter) WELLINGTON. April 16. The main purpose in establishing duty-free shops at international airports was to earn overseas currency, the Minister of Finance (Mr Lake) said today when commenting on arrangements for establishing such a shop in Christchurch.
“Most of the goods sold in a duty-free shop have to be imported from overseas and paid for in foreign currency in the first place." said Mr Lake. “Because of this, it is necessary to ensure that sales are made only in exchange for foreign currency Travellers’ cheques which are payable in overseas currency will be accepted so that New Zealanders leaving the country will be able to purchase goods in the same wiv as other overseas travellers.’’ There would be no real benefit to the country if New Zealand currency was accepted at duty-free shops said Mr Lake. Furthermore, it would obviously bt unfair if some people could purchase goods with New Zf aland currency at a price considerably lower than through normal trade channels.
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Bibliographic details
Press, Volume CI, Issue 29800, 17 April 1962, Page 14
Word Count
173DUTY-FREE SHOP Press, Volume CI, Issue 29800, 17 April 1962, Page 14
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