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National Tariff Commission to hold public hearing on August 10.

ISLAMABAD, July 26, 2011 (Frontier Star): National Tariff Commission (NTC) would hold a public hearing on the issue of tariff protection through reduction of custom duty and sales tax on the import of Tin Mill Black Plate (TMBP) on August 10. A statement issued by the NTC here Monday said that Siddiq Sons Limited Karachi, a manufacturer of Electrolytic Tinplate (ETP) has approached the NTC for tariff protection through reduction of customs duty and sales tax on import of raw material of Tin Mill Black Plate (TMBP). The manufacturer has requested for reduction of customs duty on import of TMBP from 1.5 percent to 0.5 percent and sales tax from 19.5 percent to 16 percent, it said. The applicants request is based on the grounds that custom duty on secondary quality ETP is 20 percent and its major raw material like secondary quality Mill Black Plate (TMBP) is subject to 15 percent custom duty. This differential does not provide required protection to the applicants industry, which has to bear additional cost due to its locational disadvantage. There is also an anomaly in case of levy of Sales Tax which is levied @ 19.5% on import of applicants major raw material, TMBP while on the finished goods the same is levied 16 percent. Accordingly, NTC is initiating an inquiry and would welcome views, suggestions and proposals from all parties having an interest in the business relating to or associated with the imports, manufacturing and marketing of ETP. Views, suggestions may be sent within fifteen days of publication of this press release in newspapers, to the Secretary, National Tariff Commission, 4th Floor, State Life Building No. 5, Blue Area, Islamabad, it added. Further, all parties having interest in the business relating to or associated with the imports, manufacturing and marketing of ETP are advised to get themselves registered with NTC latest by August 5 for participation in the public hearing.

(THROUGH ASIA PULSE)
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Publication:The Frontier Star (Northwest Frontier Province, Pakistan)
Geographic Code:9PAKI
Date:Jul 26, 2011
Words:324
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