| Market & Trends |
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Islamabad: Reduction in custom duty on imported glass demanded
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Lahore Glass Merchants Group and Importers Association has demanded of government to reduce the 25 percent custom duty on the imported glass to bring on adequateable level and approached the National Tariff Commission in this regard.
The National Tariff Commission has asked the different stakeholders to send their proposals within seven days to look into the matter and the public hearing will be held on Feb 15 in the committee of National Tariff Commission.
The applicantÂ’s request is based on the grounds that glass is a basic component and the selling price of indigenous manufacturers is Rs. 22,000/MT in local market while their cost ranges from Rs. 75,00 to Rs 8,000.Besides they are exporting the glass at Rs 8,500 getting more than 200 percent profit form their products.
They also say that the cost of imported glass is Rs.23, 795/MT which is high as compared to cost of indigenous production of glass and local industry is undue protection.
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January 30th, 2006
Source: Paktribune.com |
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