Monday, May 29, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Others
    • Pets
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Technology
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • MS ON THE ROAD
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Gallery
      • Photos
      • Videos
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business

Tariff Commission recommends safeguard duties on HDPE

Othel V. CamposbyOthel V. Campos
July 4, 2022, 7:10 pm
in Business, Economy & Trade
Reading Time: 2 mins read
A A
Share on FacebookShare on TwitterShare on Email

JG Summit Olefins Corp. said Monday it welcomes the recommendation of the Tariff Commission to impose safeguard duties on imported high-density polyethylene resins.

HDPE resins are used in consumer and industrial goods, such as pipes, tanks, industrial packaging, bottles, healthcare articles, containers, toys, films, tapes and fibers.

“We thank the Tariff Commission for their positive recommendation on the safeguard petition for HDPE. We greatly appreciate that government has recognized the urgency and the need to protect local manufacturing industries especially during this difficult economic period,” said JGSOC president and chief executive Patrick Henry Go.

Plastics manufacturers, however, asked the TC to reconsider its recommendation. “We implore the TC to consider their position and the Department of Trade and Industry not to impose safeguard duties on HDPE resin,” said Philippine Plastic Industry Association president Aaron Timothy Lao.

The TC’s investigation began on Sept. 30, 2021 on the petition filed by JG Summit Petrochemical Corp. with the Department of Trade and Industry’s Bureau of Import Services on March 9, 2020. JGSPC merged with JGSOC on Jan. 1, 2022, with the latter as the surviving entity.

JGSOC said the application of a safeguard measure for HDPE for a period of three years would help the local petrochemical industry recover from the damage that the proliferation of imported HDPE caused in the previous years.

It said this provides the local petrochemical industry, which is a strategic manufacturing sector with strong supply chain linkages, much-needed time to further improve its production capacity, utilization rate and price competitiveness.

“It is our prayer that with continued support from the government, the domestic petrochemical industry can carry on with its roadmap to becoming globally-competitive and to achieving long-term viability. This decision of the commission is an encouraging step also for other local industries and for all who are looking to invest in the Philippines, where both government and private sector work together towards economic self-sufficiency,” Go said.

PPIA said, however, the TC decision would benefit only one producer at the expense of the downstream manufacturing industry dominated by micro, small and medium enterprises that are employing hundreds of thousands of Filipinos.

PPIA said the added duties would increase the cost of packaging materials and plastic products and add to the increasing inflation.

The safeguard duties will also result in tariff distortion where cheaper imported finished products will continue to proliferate in the market, the group said.

PPIA said the findings in the TC investigation report were not consistent with the facts presented during the hearings.

Tags: high-density polyethylene resinsJG Summit Olefins Corp.Tariff Commission
ADVERTISEMENT
Othel V. Campos

Othel V. Campos

Related Posts

Budget surplus of national gov’t climbed 13 times to P66.8b in April

byJulito G. Rada
May 29, 2023, 7:00 pm
0
8
How the weaker peso is affecting remittances—and three ways Filipinos can take advantage

The national government posted a budget surplus of P66.8 billion in April, or more than 13 times the P4.9 billion...

Read more

ICTSI investing P15b to build new berth at Manila terminal

byDarwin G. Amojelar
May 29, 2023, 6:55 pm
0
8
ICTSI plans to invest $230m next year to expand Mexican terminal capacity

International Container Terminal Services Inc. said Monday it is investing P15 billion to build another berth at the Manila International...

Read more

First Balfour to break ground on 6-km railway segment

byJenniffer B. Austria
May 29, 2023, 6:50 pm
0
8
First Balfour, vendors vow to use climate change calculator

First Balfour Inc. and Hong Kong-based joint venture partner Leighton Contractors (Asia) Ltd. are set to break ground on a...

Read more

Market rises on US deal to lift debt ceiling

byManila Standard Business
May 29, 2023, 6:45 pm
0
8
Asian markets drop and dollar rises as inflation, rate fears return

Stocks rose Monday on news that President Joe Biden and House Speaker Kevin McCarthy have reached a deal to lift...

Read more

Asia United Bank to raise capital stock to P14.7 billion

byJulito G. Rada
May 29, 2023, 6:40 pm
0
8
AUB increased profit 17% to P3.3b in 2018

Asia United Bank, one of the fastest-growing publicly-listed universal banks in the country, said Monday it is increasing its authorized...

Read more

BDO announces cash dividend payment on June 14

byJulito G. Rada
May 29, 2023, 6:35 pm
0
8
BDO warns clients vs. ‘deactivation’ emails

BDO Unibank Inc., the biggest lender led by the Sy Group, will pay cash dividends to stockholders for the second...

Read more

Print Edition

View More

Recent Posts

  • Alicia hosts National Chess Championships
  • NBA Community Court opens at Reyes Gym
  • PSA execs to grace PSA Forum
  • Erdogan extends 2-decade Turkey rule
  • Ukraine repels huge Russian air strikes
  • Nokor tells Japan of ‘satellite launch’
  • Budget surplus of national gov’t climbed 13 times to P66.8b in April
  • ICTSI investing P15b to build new berth at Manila terminal

Advertisement

Latest News

Nokor tells Japan of ‘satellite launch’

byAFP
May 29, 2023, 7:05 pm
0
8
Southwoods nails Seniors’ Fil golf crown

TOKYO—North Korea has informed Japan that is preparing to launch a satellite as early as this week, Tokyo announced Monday...

Read more

Budget surplus of national gov’t climbed 13 times to P66.8b in April

byJulito G. Rada
May 29, 2023, 7:00 pm
0
8
How the weaker peso is affecting remittances—and three ways Filipinos can take advantage

The national government posted a budget surplus of P66.8 billion in April, or more than 13 times the P4.9 billion...

Read more

ICTSI investing P15b to build new berth at Manila terminal

byDarwin G. Amojelar
May 29, 2023, 6:55 pm
0
8
ICTSI plans to invest $230m next year to expand Mexican terminal capacity

International Container Terminal Services Inc. said Monday it is investing P15 billion to build another berth at the Manila International...

Read more

First Balfour to break ground on 6-km railway segment

byJenniffer B. Austria
May 29, 2023, 6:50 pm
0
8
First Balfour, vendors vow to use climate change calculator

First Balfour Inc. and Hong Kong-based joint venture partner Leighton Contractors (Asia) Ltd. are set to break ground on a...

Read more

Market rises on US deal to lift debt ceiling

byManila Standard Business
May 29, 2023, 6:45 pm
0
8
Asian markets drop and dollar rises as inflation, rate fears return

Stocks rose Monday on news that President Joe Biden and House Speaker Kevin McCarthy have reached a deal to lift...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Technology
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • MS ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Gallery
    • Photos
    • Videos
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Pets
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App