ISLAMABAD: The National Tariff Commission (NTC) is considering a proposal by a local manufacturer regarding reduction in duty and taxes on raw material for the electric cable manufacturing industry.
An official statement said that Fast Cables Limited Lahore has approached the NTC for assistance to improve competitiveness of the domestic industry manufacturing electric cables through reduction in customs duty on import of raw material/inputs.
The manufacturer also proposed increase in custom duty on imported product–medium and high voltage electric cables.
The applicant has stated that due to economies of scales and government support, Chinese exporters are exporting medium voltage and high voltage electric cables at cheaper prices.
Resultantly, the domestic industry cannot compete with the imported product.
NTC accordingly has initiated an inquiry under Section 9 of the NTC Act 2015 and sought feedback from all stakeholders having interest in the business relating to or associated with the import, manufacturing, exports and use of electric cables.
The feedback should reach the NTC within 15 days. In the NTC building, a public hearing will also be held on May 24.