The National Tariff Commission (NTC) has imposed definitive anti-dumping duties ranging from 6 to 41 percent on galvanised steel coils/sheets for a period of five years with effect from February 8, 2017, according to a company notice sent to the Pakistan Stock Exchange (PSX), reported a national daily.
The duty on Chinese exporter Angang Steel Company is 40.47pc, followed by 31.31pc on Hebei Iron and Steel Co. Ltd., 9.13pc on Bengang Steel Plates Co. Ltd., 6.09pc on Maanshan Iron and Steel Co. Ltd. The rate on all other producers and exporters from China is also 40.47pc.
The imposition has come in effect due to a complaint lodged by the industry that the dumping was causing “material injury” to the domestic players due to price undercutting, price depression, decline in market share, sales capacity utilisation, return on investment, negative effect on cash flow and increase in inventories.
However, the duty would not be levied on imports from sources other than China, imports used as inputs in products destined solely for exports and on imports that are covered under any scheme exempting customs duty for exports under the Customs Act of 1969.
