Par committeee for antidumping duty on newsprint

NEW DELHI: Parliamentary Committee on Public Undertakings has recommended imposition of anti-dumping duty on newsprint along with a massive hike in import duty to 25 per cent to safeguard the domestic industry.

The committee in its latest report on Hindustan Newsprint also asked government to provide relief to newsprint industry by incorporating a zero per cent floor rate under the proposed Value Added Tax regime.

It further suggested making newsprint a declared good under central sales tax act.

The report said imposition of anti-dumping duty would protect domestic industry and prevent multinationals from capturing domestic market.

In order to promote environmentally friendly practices the committee asked the government to allow duty free import of waste paper and white blank news along with provision of 100 per cent depriciation during first financial year.

On the issue of appointment of directors the committee felt that the government should immediately appoint a non official director to enable the company to enjoy mini ratna status.

In order to tide over the problem of dwindling supply of raw material the report said centre should take up allotment of additional land with Kerala government at highest political level.