Byline: Sohail Khan - Karachi
I WOULD like to highlight the plight of the glass and detergent industries. These two sectors are major tax contributors to the national exchequer and also the largest employers in the country. Their main raw material is soda ash, a chemical which has been hijacked by a multinational company, the only major producer in the country. The other supplier is insignificant and most of the country's requirement is being met by imports.
In a recent move, customs have decided to increase ITP value of soda ash from the existing $245 per tonne to $300 per tonnne. If this happens it will not be possible to import soda ash at all.
In a parallel move the company has increased their prices to Rs39,000 per tonne, whereas they are exporting surplus product at $270 per tonne, equivalent to Rs31,200 a tonne.
The present unfair treatment of stopping imports and letting the multinational company increase local prices will ultimately lead to a collapse of the local industry.
I request the relevant authorities to take notice of this unfair treatment and bring parity in the export and local prices.
|Printer friendly Cite/link Email Feedback|
|Publication:||Dawn (Karachi, Pakistan)|
|Date:||May 17, 2018|
|Previous Article:||PCB demands.|
|Next Article:||Settling bills.|