: DCPC, Ministry of Chemicals & Fertilizers declines to levy import duty on polymers #FinanceIndia #StockMarketNEWS DCPC, Ministry of Chemicals & Fertilizers declines to levy import duty on polymers

@StockMarketNEWS Mon 10 Apr, 2023

Posted in: #FinanceIndia #StockMarketNEWS

DCPC, Ministry of Chemicals & Fertilizers declines to levy import duty on polymers #FinanceIndia #StockMarketNEWS
DCPC, Ministry of Chemicals & Fertilizers declines to levy import duty on polymers New Delhi, Apr 10 (KNN) The Department of Chemicals and Petrochemicals (DCPC) has rejected the request of the plastic industry to impose import duty on polymers and implementation of a quality control order on value-added plastics.

During the industry stakeholders meeting held last week, all the primary manufacturers of polymers and value-added plastics, trade associations, and domestic promotion councils were present.

However the meeting ended without any concrete decision.

According to participants, the DCPC officials sought suggestions from the industry stakeholders but did not want to discuss issues such as the levy of import duty and quality control orders.

The DCPC official asked industry officials to discuss any issues other than import duty either on polymer or finished plastics products.

Also, the official requested participants to avoid discussions on the quality control order as notified by the Bureau of Indian Standards (BIS), and extended time-to-time.

But, the industry players urged the DCPC official to discuss these topics only, given their significance for the entire plastic value chain. (KNN Bureau)