The Finance Ministry has imposed definitive anti-dumping duty on purified terephthalic acid (PTA) imports from China, Iran, Taiwan, Indonesia and Malaysia. An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value.
PTA a white, free flowing crystalline powder is the primary raw material for the manufacture of polyester chips which in turn is used in a number of applications in textiles, packaging, furnishings, consumer goods, resins and coatings. MCC PTA India Corp Pvt Ltd and Reliance Industries Ltd had filed the petition seeking levy of anti-dumping duty on PTA imports from these four countries. Indian Oil Corporation, another producer of PTA, had supported the petition. Based on the recommendations of the designated authority in its final findings, the revenue department has imposed anti-dumping duty that ranged from $83.08 per tonne to $168.76 per tonne depending on the producer and country of export.
So let’s do:
1. Dumping duty imposed on PTA imports from _ countries.
Source – The Hindu