Govt extended anti dumping duty on yarn imports till year end

In order to mitigate the impairments of margins of local industry, the government has extended anti dumping duty on fully drawn and spin drawn yarn imports from China and Thailand. The duty was earlier extended till November 30, last month, and now has been extended further by a month.

 

As per the assessments made by Directorate General of Trade Remedies (DGTR),  imports were affecting the local industry.  The designated authority has  requested for further extension of the anti dumping duty on the subject goods originating in or exported from the subject countries,” the notification added.

 

The General Agreement on Tariffs and Trade (GATT), Article 6 allows anti-dumping duties to be imposed on goods that are deemed to be dumped and causing injury to producers of competing products in the importing country. These duties are equal to the difference between the goods’ export price and their normal value, if dumping causes injury.

The increase in duty has the sole objective of ensuring fair trading practices and creating a level-playing field for domestic producers vis-a-vis foreign producers and exporters.

Cover image by: The Express Tribune