Pakistan Govt to withdraw fiscal incentives to PTA

16-Jun-10
The government has decided to withdraw fiscal incentives available to Pure Terephthalic Acid (PTA) after the European Union (EU) imposed a 9% anti subsidy duty on Pakistan Polyethylene Terephthalate (PET), as reported in Business Recorder. The total export of PET to EU members is about 1% of Pakistan's total export. The schemes covered under the subsidy were PTA, export refinance scheme, long term financing scheme, bonded warehouse and import of machinery at concessional duty.
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