March 14, 2007	Wednesday	Safar 24, 1428

ISLAMABAD, March 13: The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) on Tuesday expressed concern over heavy under-invoicing on import of PVC pipes and fittings which was causing loss to local industries.

FPCCI vice president Fazal Elahi said huge import of these products from China, Saudi Arabia, UAE and Turkey had caused damage to local industries.

He asked the government to save some 450 small manufacturing units from being closed down. He said the price of PVC resin, the raw material of the item in the international market, was $870 per ton.

If the cost of chemicals and energy involved in the manufacturing process, and ocean freight charges are added, the landed cost of the manufactured PVC pipes and fittings should be more be more than $1,540 per ton.

However, the value of manufactured PVC pipes and fittings declared by the importers was as low as $90 per ton and it was assessed by the customs at $150 per tons, which was far below the value of $400 at which PVC scrap was being assessed by the customs and even lower than freight charges per ton, he added.

Mr Elahi said same was the case with PPR pipes and fittings, whose price in international market was $1,470 and after including processing charges of $515 and freight charges of $250 its C &F price came to $2,235, but it was being imported and assessed at $280 per ton only.