Business Daily from THE HINDU group of publications
Thursday, Aug 16, 2007
ePaper
Business Daily from THE HINDU group of publications Thursday, Aug 16, 2007 ePaper |
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Industry & Economy
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Paper, Board & Newsprint Ensure price stability: Paper traders’ body
Our Bureau Hyderabad, Aug. 15 The Federation of All India Paper Traders Association (FPTA) has asked the paper manufacturing mills to ensure price stability for a given period of time. It also asked them to give prior notice before effecting new prices. Despite the traders’ pleas, the mills were resorting to frequent price hikes, Mr Subhash Chand Jain, President of the association, said. Addressing the annual general meeting of the association here, he said frequent increases in prices were resulting in unnecessary disputes with the buyers. This, in turn, was causing loss to the traders. Introduce GST
The association asked the Union Government to introduce GST (Goods and Services Tax) in 2008 and not wait till 2010. He also expressed the concern that India could end up net importer of finished papers if it failed to compete with the low-cost producers such as China and Indonesia. Mr Pradeep Dhobale, Chief Executive of ITC (Paperboards and Specialty Papers Division), called for scaling up of topline. “You need to sell more volumes and value added products,” he said. Stating that the average sales volumes were very low, he said, funding would become a major issue in the next two-three years as consumption would be up by three million tonnes. About Rs 1,200-1,500 crore was needed to be pumped in. “It has to come from banks. But you have to have a transparent book keeping practices,” he said.
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