Rubber and tyre scrap: NTC to hold hearing on duty exemption
Rising energy costs have made put local cement exporters in uncompetitive.
ISLAMABAD:
The National Tariff Commission (NTC) will hold a public hearing on July 26 to deliberate upon exempting customs duty on importing rubber and tyre scrap.
According to a NTC statement issued on Tuesday, Lucky Cement Limited, a manufacturer of Portland cement, approached the NTC to seek exemption of customs duty on import of rubber and tyre scrap, keeping in mind, increasing energy and coal prices.
In its application, Lucky Cement, argued that it was the leading manufacturer of Portland cement and has invested Rs38 billion by creating job opportunities for more than 4,000 people in the remote areas of Khyber-Pakhtunkhwa and Sindh.
According to the application, it has been earning $170 million for the country. Present increase in energy prices, however, primarily increase of coal prices from US$85 to US$140 per metric ton, has placed cement exporters in an uncompetitive and difficult situation.
Published in The Express Tribune, July 6th, 2011.
The National Tariff Commission (NTC) will hold a public hearing on July 26 to deliberate upon exempting customs duty on importing rubber and tyre scrap.
According to a NTC statement issued on Tuesday, Lucky Cement Limited, a manufacturer of Portland cement, approached the NTC to seek exemption of customs duty on import of rubber and tyre scrap, keeping in mind, increasing energy and coal prices.
In its application, Lucky Cement, argued that it was the leading manufacturer of Portland cement and has invested Rs38 billion by creating job opportunities for more than 4,000 people in the remote areas of Khyber-Pakhtunkhwa and Sindh.
According to the application, it has been earning $170 million for the country. Present increase in energy prices, however, primarily increase of coal prices from US$85 to US$140 per metric ton, has placed cement exporters in an uncompetitive and difficult situation.
Published in The Express Tribune, July 6th, 2011.