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Pakistan imposes duty on imports of Indian fine cotton yarn
NTC to charge up to 14.5pc anti-dumping duty on cotton having 55.5 or more counts
By Ghulam Abbas -
November 14, 2017
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ISLAMABAD: In order to save the domestic market, National Tariff Commission (NTC) has imposed 5.6 per cent to 14.5 per cent anti-dumping duty on Indian fine cotton yarn entering Pakistan for a period of five years.
According to official documents, as per the final determination of the investigation on subsidised imports of fine cotton yarn and levy of definitive anti-dumping duty on dumped imports of fine cotton yarn originating in and/or exported from India to Pakistan, the duty will apply on the import of cotton having 55.5 or more counts originating or imported from India, for a period of five years effective from October 18, 2017.
The NTC, under the ministry of commerce, Government of Pakistan, had opened an investigation in April last year under the Countervailing Duties Act of 2015, on the basis of a complaint filed by the All Pakistan Textile Mills Association (APTMA) on behalf of domestic industry of cotton yarn.
For the investigation, three Indian fine cotton yarn (carded or combed) manufacturers were examined for determining subsidies on the basis of the information provided by them and the Indian government. The investigation concluded that subsidised imports had hurt the domestic industry as they suppressed domestic prices.
According to NTC officials subsidised imports of the investigated product (fine yarn) adversely affected market share, sales, profits and profitability, cash flows, inventories return on investment and ability to raise capital of the domestic industry.
As per the documents products of Indian exporters including, Veebee Yarnntex Private Limited, NSL Textiles Limited, Sree Lalitha Parameswari Spinning, Prasuna Vamsikrishna Spinning Mills Pvt Ltd, Mohan Spintex India Limited, Trident Limited and Nagreeka Exports Limited were imposed 14.55 per cent, 9.53 per cent, 13.18 per cent, 4.84 per cent, 12.11 per cent, 12.17 per cent and 5.64 per cent duty respectively for five years.
Products of others Indian exporters including Shreedhar Cotsyn (Pvt) Ltd, Prime Urban Development India, K.A.S Industries India Pvt Ltd, Sjlt Spinning Mills (P) Ltd, The Priyadarsini Cooperative, Sjlt Textiles Pvt Ltd, Prima Products Pvt Ltd, Vardhman Textiles Ltd, Nahar Spinning Mills Ltd, Arun Spinning Mills (P) Ltd, Thiagarajar Mills (P) Ltd and Premier Mills Pvt Ltd have been charged with 10.02 per cent duty by the commission. Besides these, all others Indian exporters of the fine cotton yarn are charged with 14.5 per cent duty.
However, fine cotton yarn imported from countries other than India and cotton yarn with less than 55.5 counts would not be subject to the provisional countervailing duty, NTC said. Duty would also not be levied on products that are to be used as inputs in products destined solely for exports.
Definitive anti-dumping duties levied on import of the investigated product would be in addition to other taxes and duties leviable on its imports under any other law.
NTC to charge up to 14.5pc anti-dumping duty on cotton having 55.5 or more counts
By Ghulam Abbas -
November 14, 2017
0
729
Share on Facebook
Tweet on Twitter
ISLAMABAD: In order to save the domestic market, National Tariff Commission (NTC) has imposed 5.6 per cent to 14.5 per cent anti-dumping duty on Indian fine cotton yarn entering Pakistan for a period of five years.
According to official documents, as per the final determination of the investigation on subsidised imports of fine cotton yarn and levy of definitive anti-dumping duty on dumped imports of fine cotton yarn originating in and/or exported from India to Pakistan, the duty will apply on the import of cotton having 55.5 or more counts originating or imported from India, for a period of five years effective from October 18, 2017.
The NTC, under the ministry of commerce, Government of Pakistan, had opened an investigation in April last year under the Countervailing Duties Act of 2015, on the basis of a complaint filed by the All Pakistan Textile Mills Association (APTMA) on behalf of domestic industry of cotton yarn.
For the investigation, three Indian fine cotton yarn (carded or combed) manufacturers were examined for determining subsidies on the basis of the information provided by them and the Indian government. The investigation concluded that subsidised imports had hurt the domestic industry as they suppressed domestic prices.
According to NTC officials subsidised imports of the investigated product (fine yarn) adversely affected market share, sales, profits and profitability, cash flows, inventories return on investment and ability to raise capital of the domestic industry.
As per the documents products of Indian exporters including, Veebee Yarnntex Private Limited, NSL Textiles Limited, Sree Lalitha Parameswari Spinning, Prasuna Vamsikrishna Spinning Mills Pvt Ltd, Mohan Spintex India Limited, Trident Limited and Nagreeka Exports Limited were imposed 14.55 per cent, 9.53 per cent, 13.18 per cent, 4.84 per cent, 12.11 per cent, 12.17 per cent and 5.64 per cent duty respectively for five years.
Products of others Indian exporters including Shreedhar Cotsyn (Pvt) Ltd, Prime Urban Development India, K.A.S Industries India Pvt Ltd, Sjlt Spinning Mills (P) Ltd, The Priyadarsini Cooperative, Sjlt Textiles Pvt Ltd, Prima Products Pvt Ltd, Vardhman Textiles Ltd, Nahar Spinning Mills Ltd, Arun Spinning Mills (P) Ltd, Thiagarajar Mills (P) Ltd and Premier Mills Pvt Ltd have been charged with 10.02 per cent duty by the commission. Besides these, all others Indian exporters of the fine cotton yarn are charged with 14.5 per cent duty.
However, fine cotton yarn imported from countries other than India and cotton yarn with less than 55.5 counts would not be subject to the provisional countervailing duty, NTC said. Duty would also not be levied on products that are to be used as inputs in products destined solely for exports.
Definitive anti-dumping duties levied on import of the investigated product would be in addition to other taxes and duties leviable on its imports under any other law.
