January 15, 2006	Sunday	Zilhaj 14, 1426

ISLAMABAD, Jan 14: The National Tariff Commission (NTC) has postponed the public hearing scheduled for Monday to consider the proposed revision of duty on import of glass sheets.

An official announcement issued by the NTC here on Saturday said that the next date for the hearing would be announced later.

However, the NTC invited comments, suggestions and proposals from all stakeholders for revising downward the import duty on glass sheets.

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

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

The cost of imported glass was Rs23,000 per ton, which was high as compared to cost of indigenous production of glass at Rs22,000 per ton. It showed that local industry was enjoying undue protection, added the applicant.