TASHKENT, Uzbekistan, February 21. Uzbekistan allows purchase of copper raw materials through exchange trading in installments, Trend reports.
Presidential decree "On measures to further accelerate deep processing of copper raw materials in the republic" was adopted (Government Decree No. 77 of February 19, 2024).
According to the resolution, it is allowed to make 25 percent of payments for copper raw materials purchased through exchange trading in the form of advance payment, the remaining 75 percent - to pay within 90 days after receiving copper raw materials.
At the same time, total fees payable for each day of providing the possibility of payment in installments for copper raw materials shall be set in the following amounts:
- for the part of payments made within 30 days - no interest shall be calculated;
- for the part of payments made from the 31st day within 60 days - interest at the rate of 50 percent of the main rate of Uzbekistan's Central Bank shall be calculated;
- for the part of payments made from the 61st day within 90 days - interest shall be calculated at the basic rate of the Central Bank.
The resolution becomes effective on April 1, 2024, and its requirements do not apply to contracts concluded before April 1, 2024.