PTIDA Delegation requested FPCCI intervention for removal of Regulatory Duty on Tyres | CustomNews.pk

PTIDA Delegation requested FPCCI intervention for removal of Regulatory Duty on Tyres

Pakistan Tyre Importers and Dealers Association (PTIDA) has demanded immediate removal of Regulatory Duty on Tyres. A delegation of PTIDA led by Mr. Shahid Anwal, Chairman FPCCI Standing Committee on Tyre along with Mr. Azeem K. Yousufzai, Chairman PTIDA, Mr. Syed  Burqi Senior Vice Chairman PTIDA, Mr. Muhammad Qamar and Mr. Muhammad Shahid called upon Vice President Sheikh Sultan Rehman and Mr. Zakaria Usman Convener FPCCI Advisory Council on Budget. The delegation apprises them of various slabs of regulatory duty on tyres which in effect is encouraging smuggling of tyres and significant revenue loss to the government. The delegation informed that there is 205 percent increase in tyres via Afghan Transit Trade which ultimately is smuggled into Pakistan. It is highly unfortunate that upto 86 percent demand of truck tyres, 69 percent of Light Truck and Van tyres and 69 percent of passenger car’s tyres in Pakistan is met by smuggled tyres. This situation is not only hurting the legal trade in Pakistan but also depriving the national exchequer of valuable revenue. They demanded an end to RD on tyres to revive local trade and discourage rampant smuggling of tyres in the country. Zakaria Usman, Convener of the FPCCI Advisory Council on budget, after listening the problems and issues faced by the tyres said that if the manufacturing is over 70 percent locally than Regulatory Duty may be applied to protect the local industry whereas when local demand is met with import the regulatory duty may not be applicable. While to avoid duties tryres are being smuggled under concealed of small gauge to large gauge that also damaged the tyres and revenue loss. Under the prevailing condition of COVID-19 almost all sectors are facing difficulties including tyres import. Regulatory duty is hurting the business of tyres import through legal channel and should be immediate removed.
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