Leather Industry

By Nisar, Mian Anjum | Economic Review, August 2002 | Go to article overview

Leather Industry


Nisar, Mian Anjum, Economic Review


The artificial leather industry is not only feeding the export oriented industry including footballs, valley balls, racket holders, gloves, and joggers etc. but also earning huge foreign exchange for the country. Importantly, this industry is working within the framework of WTO tariff. Apart from this, it is also saving valuable foreign exchange in terms of minimising the import of such goods.

But, ironically, this important industry is on the verge of closure these days, mainly due to irrational approach and unwise policies of the government.

It is regretted to point out that the cascading formula having four categories, that is, basic raw materials, semi finished products and finished products has not been practically implemented. All the raw materials are falling under maximum 25 per cent custom duty. This becomes an anomaly that the rate of custom duty on raw materials as well as on the finished products is same which is 25 per cent.

It is feared that if regulatory duty is not levied on the finished products, or duty on raw materials is not reduced, no relief can be availed off by the artificial leather industry, which is already burdened under the financial obligations, may turn into sick units and ultimately collapse. This closure of the industry will create multiple problems including mass unemployment.

On the other hand, the rate of Excise Duty announced in recent budget on raw materials have put the local artificial leather industry in the doldrums now, it cannot compete with the imported goods of China, Taiwan, Thailand and Korea etc. …

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