Replacement Licences For Exporting Firms

Press, Volume CI, Issue 29844, 9 June 1962, Page 10

Replacement Licences For Exporting Firms

(New Zealand Press Association) WELLINGTON, June 8. Manufacturers who are making goods for export that are earning foreign exchange will be given replacement licences to enable them to maintain the flow of their products to overseas destinations.

When he made this announcement tonight the acting Minister of Industries and Commerce (Mr Shelton) said he was answering a request for further details of the undertaking given in yesterday’s Speech from the Throne, which stated “an import replacement scheme with bonus licences will be introduced where imported raw materials are incorporated in export products.” Mr Shelton said it was more the implementation of Government policy than a specific scheme. “We are prepared where a manufacturer puts up prac-

tical export proposals to give him replacement licences for imported raw materials used, plus a bonus,” he said. "A manufacturer might be able to cater for the local market and still have unused factory capacity. He might be able to sell his increased production overseas at a profitable rate if he could secure the licences for the extra materials required. “We would entertain applications from such manufacturers on their merits.

“The policy of the Government is to encourage manufacturers to find export markets and develop them profitably.”