Duty on PTA cut to 3%

The government cuts duty on import of pure terephthalic acid, a raw material for the production of polyester fibre.

ISLAMABAD: The government has cut customs duty on the import of pure terephthalic acid, a raw material used in the production of polyester fibre, to three per cent from seven per cent.

On the contrary, customs duty on polyethylene terephthalate for bottle resin has been increased from 7.5 to nine per cent. This was announced in a notification issued by the Federal Board of Revenue on Tuesday.

In another major decision, the FBR withdrew all duty concessions on the import of 12 types of raw material and different types of yarn for the textile industry.

Elaborating, an FBR official said the raw material from which concessions have been removed include textured yarn (nylon), polyester and other types of yarn, mixed staple fibre, yarn made from mixed wool and other products.

Published in The Express Tribune, October 13^th, 2010.