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Govt asked to slash custom duty on imported glass from 25pc
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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 adequate level and National Tariff commission will hold public hearing on Wednesday (tomorrow) in this regard.
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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February 16th, 2006
Source: Paktribune.com |
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