EPCL to lose out on market share from reduction in regulatory duty on imported PVC Resin
MG News | February 13, 2019 at 02:32 PM GMT+05:00
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February 13, 2019 (MLN): In line with a recent notification issued by the Ministry of Finance, the Federal Board of Revenue (FBR) has updated regulatory duty on imports of 43 items, including PVC Resin who’s RD has been reduced from 2% to zilch.
A report by Arif Habib Limited suggests that this development is likely to have negative implications for Engro Polymer Company Limited (EPCL), as it is a local producer of PVC resin.
Therefore, a negative impact of PKR 0.33/share (6.5%) is expected in EPCL’s CY19E earnings.
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