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PTA producers seek Govt support to withstand Intl competition
11
Jun '08
An investment-friendly and progressive tariff incentive has been provided to Pakistan PTA Limited by the Government as compensation for the heavy infrastructure costs it had to bear during the establishment of its plant.

These exorbitant costs for setting up plants in Pakistan can be mainly accredited to the lack of proper infrastructure in a country which completely offsets the benefits reaped from tariff concessions provided by the Government.

Besides, the domestic prices of PTA are standardized in conformity with international price indices. This policy, although designed to bring local industry at par with global levels, has ensured that prices are determined by market forces thereby giving consumers the alternative to switch to imported products.

Government has made enormous efforts to ensure that by coming at par with international standards, domestic PTA producers can avail all the benefits emerging from higher exports, but all in vain.
As a consequence, PTA manufacturers have invariably found it difficult to extricate themselves from incurring losses.

As a matter of fact PTA prices in Pakistan are at the lower end when compared to its neighboring competitors like India and China in spite of which the domestic textile market is facing a down trend.

One major reason explaining this phenomenon can be the protection provided by the Government of these respective countries to the PSF industries and exporters of such goods.

Pakistan has also provided for Duty and Tax Remission Rules for Export (DTRE) and All Pakistan Textile Mills Association (APTMA) has urged the Government to keep up with its promise of duty free import of raw materials for enhancing domestic competitiveness in the international sphere.

The association has also asserted that any amount of import duty on PSF will not be acceptable to the textile industry and that it will lend its full support in favor of securing Governmental aid for the polyester chain.

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