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of <h1>Foreign Trade Policy Update: New Penalties for Late Applications Under Handbook of Procedures, Vol.I, Paragraph 9.3.</h1> The Director General of Foreign Trade has amended Paragraph 9.3 of the Handbook of Procedures, Vol.I, under the Foreign Trade Policy 2004-2009. The amendment specifies penalties for applications submitted after the deadline. Applications received within six months after the deadline will incur a 2% penalty, those received between six months and one year will face a 5% penalty, and applications submitted between one and two years late will incur a 10% penalty. This amendment is issued in the public interest.
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