The National Tariff Commission (NTC) has levied 71 percent anti-dumping tariff on Hydrogen Peroxide (HP), following which the importers of HP have ceased opening new Letters of Credit (LCs). Meanwhile, the domestic producers of HP have created fake shortage of HP. Moreover, they have also hiked the prices of HP by 25 percent, which in turn will boost the manufacturing cost of textile industry's export-oriented units.
Two of the HP producers in the country had produced 60,000 tons of HP, while the domestic industries are required to import their requirements. NTC has levied a 25 percent anti-dumping tax on import of hydrogen peroxide from Korea and Taiwan, while it is 71 percent if the commodity is imported from China.
Maqsood Ahmed Butt FCA, Chairman of All Pakistan Textile Processing Mills Association (APTPMA) in a press release issued by APTPMA Head Office, voiced his apprehensions that, while just relying on the claim of two domestic producers, NTC made a one-sided decision to levy such anti-dumping tariff on HP, without even consulting the industry stakeholders, which is like making fun of the export-oriented sector and of the authorized importers of the commodity.
He further added that, as per their information the export-oriented industries in their individual capacity have filed petitions before courts against this one-sided decision. He further contended that, in order to alleviate the difficulties of the textile sector it is essential that this input of the textile industry is made available to the sector at its genuine prices, and that this one-sided decision of levying such heavy anti-dumping duty on its imports should be nullified.
Fibre2fashion News Desk-India
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