Mrf To Reduce Truck Tyre Prices

MRF Ltd said yesterday it would cut prices of truck tyres by at least three per cent following the governments decision to levy an ad valorem duty on key tyre inputs. The company said on the raw material front, the duty reduction has narrowed the gap between the price of indigenous raw materials compared to that of the imported raw materials. The imported raw materials are still not attractive since duties have not been brought down enough.