ISLAMABAD, Dec 27: The National Tariff Commission (NTC) has invited comments, suggestions and proposals from all stakeholders for revising downward the import duty on glasses. An official announcement issued here on Monday said that the NTC would hold a public hearing on January 16, 2006, in Islamabad, to hear views on reduction of import duty.

The Lahore Glass Merchants Group and Importers Association has approached the NTC for reduction in customs duty from the current 25 per cent to an adequate level.

According to the applicant, the selling price of glass by the indigenous manufacturers is Rs22,000 per metric ton in the local market, while their cost ranges from Rs7,500 to Rs8, 000 per metric ton, besides they are exporting the glass at Rs8,500 per metric ton. They are getting more than 200 per cent profit on their products.

The Group pointed out that the cost of imported glass is Rs23,000 per metric ton, which is high as compared to the cost of indigenous production of glass selling at Rs22,000 per metric ton. It shows that the indigenous industry is enjoying undue protection, the applicant added.