ISLAMABAD, Sept 8: The National Tariff Commission (NTC) has initiated a probe into alleged dumping of formic acid (FA) in the country by the exporters of Republic of Finland and the Federal Republic of Germany.

Tufail Chemical Industries Limited, the domestic manufacturer of FA, had filed an application with the commission seeking investigation into the alleged dumping, which has caused injury to the local industry.

According to an official announcement issued here on Thursday, the NTC had asked the stakeholders to apply for registration within 10 days after the publication of the notice.

The formic acid, classified under Pakistan Customs Tariff Code 2915.1100, was allegedly being exported to Pakistan at dumped prices by exporters, producers from Finland and Germany. FA has a wide range of applications as it is used by leather, pharmaceuticals, food and textile industries.

As per the procedures laid down in the Ordinance and Anti-Dumping Duties Rules, 2001 the NTC for the purposes of gathering information was expected to send questionnaires to the known exporters, foreign producers and importers of the investigated product asking them to provide information within 37 days.

Under the ordinance the NTC could not make a preliminary determination sooner than 60 days from the date of initiation of investigation. If an affirmative preliminary determination of dumping and injury is made, then a provisional antidumping duty (equal to the amount of dumping margin) may be applied for a period of 4 months.