During her Budget speech, Finance Minister said the government was abolishing in “public interest” an anti-dumping duty that was levied on imports of a chemical called PTA.
About:
Purified Terephthalic Acid (PTA) is a crucial raw material used to make various products, including polyester fabrics. PTA makes up for around 70-80% of a polyester product.
This includes products like polyester staple fibre and spun yarn. Some sportswear, swimsuits, dresses, trousers, curtains, sofa covers, jackets, car seat covers and bed sheets have a certain proportion of polyester in them.
The duty had meant importers were paying an extra $27-$160 for every 1,000 kg of PTA that they wanted to import. Removing the duty will allow PTA users to source from international markets and may make it as much as $30 per 1,000 kg cheaper than now.
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