DEPB aid on ATF to attract global airlines

New Delhi: In order to make the prices of jet fuel (aviation turbine fuel) and bunker fuel (furnace oil and diesel for ships) competitive for international airlines and shipping lines at the Indian airports and seaports, the government is considering fixation of all-industry rate of duty drawback on the supplies of petroleum products.
Currently, the all-industry rates of duty drawback for petroleum products are only available for supply of fuel oil and diesel to SEZ units.
According to a senior petroleum ministry official, if agreed upon the move will help in attracting international airlines as well as shipping lines re-fuel at Indian airports and seaports. While the domestic oil Companies like Indian Oil, BPCL and HPCL are currently supplying ATF to international airlines as well as bunker fuel to shipping lines, the price of these fuels is on the higher side on account of the element of customs duty (5%) paid on the crude oil.
12/05/08 Anupama Airy/Financial Express

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Categories: Indian Aviation- In General May 2008