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of <h1>Amendment to Paragraph 4: No Deemed Export Benefits for ERSC&C Project Without World Bank Loan. Power Grid Must Refund Benefits.</h1> The Director General of Foreign Trade has amended Paragraph 4 of Public Notice No. 34 (RE-2000)/1997-2002 regarding the Eastern Region System Coordination and Control (ERSC&C) Transmission Project. If the World Bank loan does not materialize, the ERSC&C project, being a power transmission project, will not qualify for deemed export benefits. Consequently, the Power Grid Corporation must return all deemed export benefits previously availed under transitional arrangements. This amendment is issued in the public interest and falls under the powers granted by the Export and Import Policy, 1997-2002.
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