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Tuesday, February 26, 1974
QUOTA SYSTEM FOR PLASTICS SHARE-OUT
Distribution of two essential raw materials to local plastics
firms which have applied to receive supplies under a share-out scheme will
be worked out on a quota basis, the Commerce and Industry Department
announced today.
The quotas will be calculated as a percentage of the supply
requirements for March submitted by each firm, based on the amounts of
materials available.
More than 1,100 firms have applied to receive allocations under
the scheme, and over 90 per cent of the applications meet the qualifying
conditions.
The details of the quota system were approved at a meeting yesterday
of the working committee set up to institute the scheme. It comprises
representatives of the three main plastic manufacturers associations, importers
of plastic raw materials and officials of the Commerce and Industry Department,
Two types of polystyrene high impact and general purpose
will be the first plastic raw materials to be allocated. The quota will
amount to 80 per cent of requirements submitted by each firm.
Firms participating in the scheme will be notified of arrangements
for collecting their allocated quota shortly. They will receive a written
authorisation which must be presented to a specified supplier within 14
days of its receipt.
/Allocation of
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