Passenger, light truck tyres: GTR Tyres irked by revised Customs valuations

KARACHI: GTR Tyres has expressed resentment over revised Customs valuations for passenger and light truck tyres that it says favor importers and hurt local manufacturers.

According to the details, a meeting was held last month between Customs and the Pakistan Tyre Importers and Dealers Association to lower duties on imported tyres. However, local manufacturers like GTR were not invited.

In a letter to the Customs Valuation Director, GTR CEO Hussain Kuli Khan said the new import tariff did not reflect reality and was mostly revised downwards. He argued this unfairly benefits importers over domestic manufacturers.

Khan said local tyre makers pay taxes, create jobs, invest in quality equipment, and supply over 75% of domestic demand. Meanwhile, imported Chinese tyres are under-invoiced yet have seen 72% import growth in recent years.

The letter demanded a level playing field so the local tyre manufacturers could increase production capacity, quality, and exports and urged protecting the local industry that contributes to the economy, unlike importers.

Khan said Customs valuations should support local manufacturers that pay taxes and employ people, not just benefit importers.

Copyright Business Recorder, 2023