The Central government has announced a temporary exemption on customs duty for select petrochemical products in a bid to stabilise domestic supply and shield industries from rising global disruptions triggered by the ongoing crisis in West Asia. The relief measure, which will remain in effect until June 30, is aimed at easing cost pressures across multiple sectors dependent on petrochemical inputs, reported news agency PTI.

Duty Exemption to Support Supply Stability

In an official statement, the Ministry of Finance said the decision was taken in response to disruptions in global supply chains caused by escalating tensions in West Asia. The exemption is intended to ensure uninterrupted availability of critical petrochemical feedstock required for industrial production, reported PTI.