Home / Knowledge / News / Textiles / Pakistan's NTC mulls customs duty hike on PTA
Pakistan's NTC mulls customs duty hike on PTA
16
Jun '15
Pakistan’s national tariff commission (NTC) has initiated an inquiry on import of pure terephthalic acid (PTA) in order to increase custom duty from four to five per cent, say media reports.

According to details, the applicant, M/s Lotte Chemical Pakistan Ltd, a manufacturer of PTA, approached the NTC and requested to increase the customs duty on the import of PTA from four per cent to five per cent.

The request is based on the grounds that the applicant is the only manufacturer of PTA in Pakistan. At present PTA is subjected to customs duty of four percent, which does not provide the required protection to the domestic industry, as the landing cost of imported PTA decreased during 2014.

The industry margins at international prices of PTA and its raw materials have significantly declined due to huge oversupply of PTA in Asia.

New production capacities installed in China, India and other countries are based on the latest technology and have much lower cost of production, which have contributed towards reduction in industrial margins, which are not likely to return to previous level in the short term. On the other hand, the conversion cost of the PTA has increased due to increase in the energy cost.

According to a public notice dated June 11, 2015, NTC has initiated an inquiry and would welcome views, suggestions and proposals from all parties having an interest in the business relating to or associated with the exports, manufacturing, marketing and use of PTA. A public hearing on the issue is scheduled to be held on June 22, the reports said. (SH)

Fibre2fashion News Desk – India


Must ReadView All

Textiles | On 19th Aug 2017

New fabric interfaces to interact with computers

As computer capabilities evolve, new fabric-based interfaces are...

Textiles | On 19th Aug 2017

Brazilian cotton prices drop in first fortnight of August

Cotton prices dropped in the Brazilian market in the first fortnight...

Apparel/Garments | On 19th Aug 2017

Target to acquire Grand Junction for faster deliveries

Target Corporation has announced that it has agreed to acquire Grand...

Interviews View All

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

C Kamatchisundaram
Voltas

ITME is an occasion not only to receive new leads but also to work on...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search