What are the maximum allowed periods for allowing DP L/C for different type of import?

Answer:

a) Capital machinery imports on up to 360 days usuance basis

b) Industrial raw materials imports for own use of industrial importers  on up to 180 days usance basis

c) Import of coastal vessels including oil tankers, and oceangoing vessels including those procured for scrapping on up to 360 days usance basis

     d) Import of agricultural implements and chemicals fertilizers on up to 180 days basis

e)  Import of life saving drugs on up to 90 days usuance basis.

For such deferred payment imports, the prices must be internationally competitive and usuance interest if any should not be at rate higher than the LIBOR for the relative period or the equivalent rate prevailing in the currency of the country of the supplier.