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)