KARACHI: Pakistan government has moved forward in the right direction to protect the interests of its citizens and the local industry.
Pakistan’s decision to slap up to 40% anti-dumping duty on Chinese steel is a massive development for two reasons –
It paves way for growth of the local industry and, more importantly, signals the country’s intention that it will protect the interests of its own even if over $55 billion are coming from the same geographic location.
The duty, imposed by the National Tariff Commission (NTC) last week, will be in effect for five years from the date the body commenced its investigations into the local industry’s claims that the import of Chinese steel is causing it material injury.
The investigation began in August 2015.