| Date: |
05-11-2008 |
| Subject: |
Airline stocks gain on duty exemption on jet fuel |
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The government has decided to continue the imposition of anti-dumping
duty on acrylic fibre from Belarus and Japan for five more years to
protect the domestic industry from cheap imports.
The restrictive duty on acrylic fibre, a type of synthetic
fibre used in apparel and home furnishing, will be up to USD 2,880 per
metric tonne and will impact shipments from a total of seven
enterprises based in Belarus and Japan.
"The anti-dumping duty imposed... shall be effective for a period of
five years (unless revoked, superseded or amended earlier)...," a
Department of Revenue notification said. The government had initially
imposed anti-dumping duty on the material in 2004 for five years.
The Ministry of Commerce had recommended continuation of the
anti-dumping duty on imports of acrylic fibre. A provisional
anti-dumping duty has been in place since December last year.
Acrylic fibres are synthetic fibres made from a polymer used in
apparel, home furnishing and industrial use. The principle of
anti-dumping duty, a WTO-compatible tool, is to prevent dumping of
cheap goods to ensure fair trading practices and create a level playing
field for domestic producers vis-a-vis foreign producers and exporters.
Source : yarnsandfibers.com
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