Finished products' import: Chemical makers urge government to levy countervailing duty

The domestic manufacturers of chemicals have called on the government to impose countervailing duty on the import of finished products ie chemicals to provide level playing field to the local industry to flourish.
It is learnt that a meeting of the executive committee, held on Thursday was presided by Muhammad Adrees of Sitara Chemical Industries Ltd, where the participants agreed that the government should impose a countervailing duty on the import of finished products, as is practiced in countries like India to provide a level playing field to the local industry.
Muhammad Adrees, Sitara Chemical Industries Ltd; Suhail Ahsan Khan, ICI Pakistan Ltd; Eng. Muhammad Sadiq, Descon Chemicals Ltd; Abrar Ahmed, SHAFI RESO-CHEM; Saqib Raza, Nimir Chemicals Pakistan Ltd; Pervaiz Hussain Sufi, Pharmagen Ltd; Nabila Intisar, Waleed Chemicals (Pvt) Ltd; Mansoor Haider Jawaid Jawaid, Rudolf Pakistan (Pvt) Ltd; Haroon Ali Khan, CHT Pakistan (Pvt) Ltd; Zahid Iqbal, DIC Pakistan Ltd; Rana Humayun, Tufail Chemicals & Surfactants (Pvt) Ltd and Kh. Murad, Chemical Process Industries (Pvt) Ltd were present in the meeting.
During the meeting difficulties in the way to register the association were discussed. All the members vowed to work together to register the association in the minimum possible time. The hot issue for the chemical manufacturers, custom tariff reduction was also on the main agenda. All the members rejected the proposal of the National Tariff Commission to reduce the rate of finished chemicals, as cost of doing business and the utilities' cost such as electricity, gas as well as interest rate in Pakistan is more as compared to the neighbouring countries.
The participants of the meeting called for providing a level playing field to the local industry otherwise, it will be devastating for the chemical industry as well as the overall manufacturing capacity of the country. Participants agreed that government should impose a countervailing duty on the import of finished product as it is practiced in the country like India to provide level playing field to the local industry. A committee of four members was finalised to take up the issue of tariff rationalisation on the platform of Pakistan Chemicals Manufacturers Association (PCMA) with the National Tariff Commission, the FBR and the ministry of commerce.