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Textile sector seeks suspension of regulation on import duties
31
Jan '11
Several industrial groups have requested the government to defer the execution of new rule on import duties till next year, as the same was believed to have impaired the country's local industry.

Ade Sudrajat, Chairman of the Indonesian Textile Association said that, the new regulation caused the domestic manufacturers to incur higher cost of production due to import duty imposition on raw inputs and capital assets.

He, while addressing a conference held to discuss the issue said that, the regulation shoots up their cost of production as they need to incur higher cost for raw materials and capital goods, and it grants duty exemption to several imported finished goods.

Such high cost of production would cause the locally produced finished goods to get more costly, and would render them less competitive in comparison with those of other countries.

The 2010 Finance Ministerial Regulation on Import Duties which was issued during December last year, subjected 2,165 raw materials, capital goods, and finished goods to import duty imposition.

The ASEAN free trade agreement that the country inked with China and which became effective last year, facilitates trading of goods in partner countries without any impediment like import duties.

Fibre2fashion News Desk - India


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