ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Popular Movements in Jalpaiguri

February 7, 1987 a cartel. It claims that it is charging what it considers to be the fair price of PFY. The controversy over what is the fair price of a commodity is perhaps as old as the social science of political economy. It is claimed that the polyester staple fibre (PSF) and PFY manufacturers have been enjoying excessive tariff protection and abnormal profits. The Bureau of Industrial Costs and Prices (BICP) has recently released a summary of its recommendations based on a study of the synthetic fibre industry. The BICP has recommended market prices of PSF and PFY at Rs 69.09 per kg and Rs 166.97 per kg, respectively, which are much below the prevailing market prices. Further, the BICP has recommended that customs duty on PSF be reduced from 185 per cent to 150 per cent and on PFY from 225 per cent to 190 per cent. The objective is to reduce abnormal profits and improve the efficiency of the PSF/PFY industry. The PSF/PFY manufacturers have been reaping enormous profits over the last few years in a protected market.

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