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Pakistan Or Adjust The Tariff Structure Of Clothing Import PTA\PSF

2010/6/11 9:42:00 36

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In the coming 2010-11 fiscal year,

Pakistan

The government may adjust the tax structure of imported terephthalic acid (PTA) and polyester staple fibers, PTA from 7.5% to 3%, and polyester staple fiber from 4% to 6%.

3% of the tax rate on imported PTA will not be refundable.

Act as

Tariff structure

As a result of the adjustment, the tax on polyester staple fiber will increase by 2%. According to the news from the Federal Taxation Bureau of Pakistan, the Ministry of textiles has proposed to the government that the tariff on imported PTA be reduced from 7.5% to 3%.

The Ministry of textiles also proposes to implement the tariff structure of polyester staple yarn (PSY) and other polyester chains according to the proposal submitted by the National Customs Committee to the government.

It is revealed that the government of Pakistan is currently soliciting opinions on 7.5% tariffs, which can be refunded. The National Customs Committee also proposes to reduce the tariff of PTA to 4% in accordance with the principle of series connection in the 2010-11 fiscal year budget.

The interest of the textile industry is related to the government's proposal that the import PTA will impose a maximum tariff of 1-2%.

PTA is a white powder, which is used as the main raw material for the production of polyester fiber in the domestic market. It is an import product for textile manufacturing, polyethylene terephthalate two (PET) bottle resin and packaging film.

Stakeholders in the textile industry have submitted the following recommendations to the government:

1, the tariff on PTA is 2%, and the duty on polyester filament yarn should be 11%, so as to maintain the same level of net protection (when the duty is 4%, the duty of polyester filament yarn should be 12%).

2, in 2012, due to

EVTL/BOC

The cost will be reduced from 30 US dollars / ton to 8 US dollars / ton. The duty of PTA should be 22 US dollars / ton (about 2.4% of the PTA price 920 US dollars / ton), and from 2011, the duty on the catalytic recovery project will be 6 US dollars / ton (about 0.65% of PTA price 920 US dollars / ton).

3, the benefits of its own generation plan, including increasing output, will be used to finance the cost of self generating electricity.

The reality of the above support is as follows: PTA import tax should not dilute the current downstream protection, which will hamper the prospect of PTA growth in Pakistan; the PTA import tax in the Far East three countries (Thailand, Indonesia and Malaysia) is 0%, even if they have 2-3 PTA production plants.

Tariffs on downstream products from non ASEAN countries such as polyester staple, filament yarn and PET are 5-15%.

South Korea's PTA tariff is 3%, but its main raw material PX tariff is zero, and downstream products such as PET resin tariff is 6.5%.

The current PTA consumption is about 550 thousand tons / year, with capacity reaching 500 thousand tons.