UNFAIRNESS FEARED

Press, Volume CI, Issue 29803, 21 April 1962, Page 13

UNFAIRNESS FEARED

“Free” Funds Imports

The Canterbury Manufacturers’ Associaiton wants the Minister of Customs (Mr Shelton) to define the “free” overseas funds which, the Government recently announced, would be available for importing goods and materials. The secretary of the Canterbury Manufacturers’ Association (Mr R. T. Alston) said the association council had discussed the matter recently and considered that, without careful consideration, the scheme for the use of “free funds” could allow one importer with ample “free" funds available to have a great advantage over another importer without any.

“This could lead to unfair trading practices,” Mr Alston said. “It could possibly result in importing firms with little or no ‘free’ funds available being squeezed out of business.”

The New Zealand Manufacturers’ Federation, while approving the scheme in principle, had requested Mr Shelton to give essential goods and capital equipment priority in the scheme, Mr Alston said.

Mr Shelton recently informed the federation that the Government had only approved the use of “free" funds in principle as yet, and that he was now awaiting reports from departmental officers so that the details of the scheme could be made public. The manufacturers’ federation, Mr Alston said, had asked Mr Shelton if it could make submissions on the scheme before it was defined and put into practice.