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Pak tyre industry to face competition from India
Karachi, Nov 03: Pakistan tyre industry will face competition from India in the bus and truck tyre segments in the World Trade Organisastion (WTO) regime, Haroon Zuberi, managing director of General Tyres and Rubber Company said here Friday.
Karachi, Nov 03: Pakistan tyre industry will face competition from India in the bus and truck tyre segments in the World Trade Organisastion (WTO) regime, Haroon Zuberi, managing director of General Tyres and Rubber Company said here Friday.
"Indian bus and truck tyres have good quality and the competition will come in this segment," the Daily Times quoted Zuberi as saying.
He said smuggling of tyres coupled with a very low import duty on import of tyres have caused heavy losses to his country's tyre industry.
He claimed that due to these two factors his company had suffered a loss to the tune of Rs 300 million in terms of sales.
The 10 percent custom duty on the import of bus and truck tyres leaves no room for the local tyre industry to compete with smuggled tyres, he added. Bureau Report
He said smuggling of tyres coupled with a very low import duty on import of tyres have caused heavy losses to his country's tyre industry.
He claimed that due to these two factors his company had suffered a loss to the tune of Rs 300 million in terms of sales.
The 10 percent custom duty on the import of bus and truck tyres leaves no room for the local tyre industry to compete with smuggled tyres, he added. Bureau Report