S.O. (E) – In exercise of the powers conferred by section 5 of the Foreign Trade (Development and Regulation ) Act, 1992 (No. 22 of 1992) read with paragraphs 1.3 and 4.1 of Export and Import Policy, 1997-2002 the Central Government hereby makes the following amendments in Export And Import Policy, 1997-2002 (incorporating amendment made upto 13.4.1998) and ITC(HS) Classifications of Export and Import Items 1997-2002, published on 31^st March, 1997 and as amended from time to time.

In Export and Import Policy, Paragraph 15.3, Sl . No. 1 of Part III of Chapter 15 of Negative List of Imports shall be substituted as under:-

Sl. No

Description of items

Canalising agency

1

Petroleum products, namely,

Indian Oil Corporation Limited

a) Aviation Turbine fuel

b) Motor Spirit

c) High Speed Diesel

d) Bitumen (asphalt) – paving grade; and

e) Crude Oil

However, Private and Joint Sector refineries can import crude oil freely without an import licence for actual use in their own refineries.

In ITC(HS) Classifications of Export and Import Items in respect of following Exim Code Nos. the columns 3, 4 and 5 shall be amended to read as under:-

EXIM Code

Item Description

Policy

Conditions relating to the policy

Import under SIL/ Public Notice

270900 00

Petroleum oils and oils obtained from bituminous minerals, crude

Canalised

Import through Indian Oil Corporation Limited. However, Private and Joint Sector refineries can import crude oil freely without an import licence for actual use in their own refineries.

27100039.10

Furnace oil (except low sulphur heavy stock/ low sulphur waxy residues)

Free

This issues in public interest.

Sd/-

Copy to all concerned;

By Order etc.