Related Keywords: filed petition with NTC, grab companys market share, increase in customs duty, Lotte Chemical Pakistan Ltd, owned by South Korean group Lotte, protection against cheaper imports, sole producer of PTA, used by polyester industry
Lotte Chemical Pakistan Limited owned by South Korean conglomerate Lotte and a sole producer of pure terephthalic acid (PTA) used by the polyester industry seeks protection against cheaper imports of the PTA fearing it may grab the company’s market share. They have filed a petition with the National Tariff Commission (NTC), seeking an increase in customs duty on PTA imports from 4% to 5%, according to a press release.
