AsiaNet-Pakistan Premier Editorial Content and Press Release Distribution Service
Karachi: The government’s failure to amend the PTA import tariff structure has led fears of losing Lotte PPTA’s investment of USD 500mn for the expansion of its production capacity to meet the country’s growing market size.
According to Alfalah Securities Limited, Lotte Pakistan, keeping in view the country’s PTA market size reaching 900,000 tons, had decided to increase its production capacity from 500,000 tons by investing USD 500 mn in an expansion project and had requested the government to revise the industry tariff to 7.5% to make PTA production feasible in Pakistan. However, the government has till now failed to rationalize the import tariff and consequently there are fears that this significant expansion investment by Lotte Pakistan would be shifted to another country in the Middle East or Asia where PTA production is feasible.