News Formal

Polyethylene import duties seen to protect petrochemical industry - BusinessWorld Online

  • 📰 bworldph
  • ⏱ Reading Time:
  • 22 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 68%

United Kingdom News News

United Kingdom United Kingdom Latest News,United Kingdom United Kingdom Headlines

THE recently imposed duties on high-density polyethylene (HDPE) imports will protect the local petrochemical industry from cheap foreign resins entering the country, according to JG Summit Olefins Corp. (JGSOC). READ:

On Wednesday, the Department of Trade and Industry ordered the imposition of safeguard duties on imports of HDPE pellets and granules for three years.

The firm said that the move will contribute to the new administration’s drive of ensuring the country’s long-term economic recovery. The domestic petrochemical industry is expected to enhance its international competitiveness in the three years, it said, citing a report by the Tari“This includes having adjusted its selling prices to absorb production costs and operating expenses and generate reasonable margins,” it said.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 9. in UK

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

PHL garments industry warns of more layoffs, temporary closures - BusinessWorld OnlineTHE PHILIPPINE garments industry is struggling amid a slump in global demand, warning of temporary closures and more worker layoffs in the next few months. READ:
Source: bworldph - 🏆 9. / 68 Read more »

Palace commissions maritime industry dev’t plan - BusinessWorld OnlinePRESIDENT Ferdinand R. Marcos, Jr. has ordered the Department of Transportation (DoTR) to draft a maritime industry development plan, focused on the training of seamen and the promotion of cruise ship tourism.
Source: bworldph - 🏆 9. / 68 Read more »