The Government Of Pakistan Decided To Import Pet DF &Nbsp To &Nbsp; 6%

A recent meeting of the cabinet Coordination Committee (ECC) made a decision to increase import tariffs.

A polyester Mill said entrepreneurs in the spinning industry would have to pay an extra 500 million rupee tariffs as the tariff increased by 1%.

Although the government only increases 855000 rupees by raising the 1.54% tariff, the entrepreneurs of spinning enterprises will have to increase the extra expenditure of 750 million rupees, because domestic producers will raise their prices because of the increase in import tariffs.

An industry expert said, in short, they are paying 3 billion rupees for domestic polyester manufacturers.

After the closure of the world's largest polyester fiber manufacturer in Pakistan, the remaining four enterprises (Ibrahim fiber, Rupali, ICI and Pakistan chemical fiber Pakistan Synthetics) produced 350 thousand tons in the 2009-10 fiscal year and 75000 tons in the same year.

After raising import tariffs, the government's revenue is negligible, but the cost of the four domestic companies' pockets will be much higher than expected.