Hyderabad, June 29 (UNI) The Andhra Pradesh Plastics Manufacturers Association (APPMA) today urged the state government to intervene and come to the rescue of the Small and Medium Entrepreneurs (SME) in the plastic industry initiating measures to regulate the prices of polymers.
In a release here, Association President A Anil Reddy urged the government to reduce the current customs duty on polymers from five to zero per cent.
He said the plastic raw material manufacturers were obliged to make certain mandatory exports and the government should either waive their export obligation or impose a duty on those exports so that sufficient material was available for domestic consumption.
He said a price rise announcement by polymer producers should be made valid for whole month unlike the present system for their choice.
The association also demanded the government to appoint a Regulatory and Development Authority to control the prices of polymers and overall development of the industry.
In India, there were over 50,000 plastics processing units in the SME sector employing over 3.5 million people and contributing over Rs 80,000 million to the exchequer by way of taxes and duties, he added.
UNI BR DS 1852