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 7th Dec 2016

New Texprocil chairman bats for increased UPI adoption

Ujwal Lahoti, the new Cotton Textile Export Promotion Council...

RBI Governor Urjit Patel addressing a press conference. Courtesy: Youtube

Textiles | On 7th Dec 2016

Defying expectations, RBI keeps repo rate unchanged

Defying market expectations, the Monetary Policy Committee (MPC) of...

The new OJ 59/1 B. Courtesy: Karl Mayer

Textiles | On 7th Dec 2016

Karl Mayer unveils new LACE.EXPRESS model for apparel

Germany’s leading textile machinery firm, Karl Mayer, has launched a...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ritu Kumar
Label Ritu Kumar

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search