November 8, 2018 (MLN): According to an official press release issued to the Pakistan Stock Exchange (PSX) this morning, International Industries Limited (IIL) has apprised that as per Canadian Border Services Agency (CBSA)’s announcement, the provisional dumping duty on imports of Circular Welded Steel Pipe (CWSP) from Pakistan has been imposed at 10.1% for IIL and 58% for other exporters in Pakistan.
The said provisional dumping margin is levied until the final determination is made by CBSA, which is due in January 2019.
“Despite this, there is no financial exposure to IIL for any of our exports to date, to Canada,” said the press release.
As per the notification, on July 20, 2018, CBSA and Canadian International Trade Tribunal (CITT) commenced a preliminary injury and dumping inquiry against the import of Circular Welded Steel Pipe (CWSP) in Canadian markets.
Following this, CBSA announced its preliminary determination on margin of dumping, on imports of CWSP from Pakistan and IIL, on October 18, 2018.
IIL has further informed that their sales to Canada will continue for the time being, but they might slow down depending on the final injury findings issued by CITT in February 2019.
The company has engaged experienced legal counsel, both in Pakistan and in Canada, to contest the above mentioned enquiries. Moreover, IIL has shown confidence on a positive outcome.
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