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| Cut in duty ruled out, says Rubber Board head |
| Newswire18 / Kochi Aug 26, 2010, 00:47 IST |
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Union Trade Minister Anand Sharma has ruled out any cut inimport duty for natural rubber from the existing 20 per cent, said Rubber Board Chairman Sajen Peter in a statement today.
The government would implement the recommendations of the expert panel constituted under the directive of the Delhi High Court on import duty, hesaid. The expert panel has recommended the import duty be retained at 20 per cent,but a maximum ceiling of Rs 20.46 a kg be fixed, he added. Sharma gave the assurance to a group of Members of Parliament from Kerala who called on him today.
Trade Secretary Rahul Khullar and Board Chairman Peter also attended the meeting.
The minister also said the import duty cap will be allowed only in aphased manner in lots of 25,000 tonnes, the statement said.
The rubber consuming sector has been demanding a cut in rubber import duty to 7.5 per cent from 20 per cent in view of the high prices of the commodity.
A few days ago, reports said the commerce ministry had allowed import of 100,000 tonnes natural rubber at 7.5 per cent duty to tide over the current high prices and tight supply.
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