SEA advocates zero import duty on soybean, sunflower oil till September instead of TRQ system

[ad_1] Stating that the Tariff Rate Quota (TRQ) for import of crude soybean and sunflower oils may hamper smooth supply chain of edible oils, industry body SEA on Thursday demanded that the government, instead of implementing the TRQ system, Make the import duty on both of them zero. Main cooking oil until September. TRQ is a quota for import quantities that will enter India at specified or zero duty, but once the quota is reached, the normal tariff is applied to additional imports. On May 24, the government had notified…

CIL floats first tender for import of 2.416 MT coal for power sector

[ad_1] state ownership Coal India On Thursday it said it has floated its first tender for importing 2.416 million tonnes of coal to ensure adequate supply of fuel to power plants in the country. The development assumes significance in view of all the efforts made by the government to stockpile coal. To avoid a repeat of the power cuts, which were caused by fossil fuel shortages in April. “For the first time, Coal India Ltd. (CIL) on Wednesday issued an international competitive bidding e-tender, inviting bids for import of 2.41.6…