The major consumers of Naphtha in the country like Haldia Petrochemicals and others have been demanding a withdrawal of import duty on the vital petrochemical feedstock, which is used in the manufacture of different chemical and polymer compounds.
In the last budget, the government had exempted fertilizer and electricity generating units from payment of the import tax. The Department of Petrochemicals had proposed to the government to exempt the other consumers in to manufacturing of chemicals and polymers.
The major end-users of naphtha in the country are Reliance Industries Ltd (RIL), Indian Oil Corporation (IOC) and Haldia Petrochemicals Ltd (HPL), who use it as a feedstock for manufacturing different grades of polymers.
Fibre2fashion News Desk - India
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