By OGJ editors
HOUSTON, Oct. 5 -- The Tariff Commission of the Philippines is considering an industry request to extend tariff protections on petrochemical imports from members of the Association of Southeast Asian Nations.
The Association of Petrochemical Manufacturers of the Philippines (APMP) filed a petition seeking the extension because the tariff protections are slated to end Dec. 31.
Last year, a presidential executive order established a 2-year tariff on imported petrochemicals of 7-10%, depending upon the petrochemical. Unless it's extended, that tariff is to be reduced in 2005 to 5% or less.
The Tariff Commission heard testimony on Sept. 23.
APMP Executive Director Mario Jose E. Sereno said the petition was in support of the JG Summit Petrochemical Corp., which said last month that it is again considering the possibility of building a naphtha cracker at its petrochemical complex in Batangas.
JG Summit needs an official assurance of protection against petrochemical imports in order to make its proposed investment feasible, APMP members said.