Financial Daily from THE HINDU group of publications
Tuesday, Feb 05, 2002
Financial Daily from THE HINDU group of publications Tuesday, Feb 05, 2002 |
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Industry & Economy
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Cotton 'Dumping duty on PSF may hit cotton mills' Our Bureau
NEW DELHI, Feb. 4 THE Indian Cotton Mills' Federation (ICMF) is apprehensive that domestic producers of polyester staple fibre (PSF) will increase their prices if the Ministry of Finance notifies provisional anti-dumping duty on PSF. The ICMF Chairman, Dr Rajaram Jaipuria, briefing media persons here on Monday said that the designated authority in the Ministry of Commerce had sent its recommendation to the Finance Ministry for notification despite an interim order from the High Court restraining the designated authority from finalising the investigation report. According to ICMA, the move will destroy the mills while only two domestic producers, namely Reliance Industries and Indo Rama Synthetics, will be immensely benefited. The ICMF Chairman said that according to available information, the time period for investigation has been changed by the designated authority to help Reliance. "Reliance itself had imported PSF in November 2000. So, the period of investigation, which was originally March to November 2000 was changed to January to September 2000.''
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