DCL POLYESTERS-Lower Margins

end of history' they issue the historical judgments.
That was and still is the problem between the US and China. The Americans and the westerners generally have decided that they shall be the arbiters of ideas and concepts. What is liberalism? What are human rights? They will decide. If the Chinese or any other people argue that the break-up of existing states (unsatisfactory amalgamations though they might be) leads to more killings than their survival would, as the partition of India continues to demonstrate to date, they are scoffed at. The almost fanatical insistence DCL POLYESTERS Lower Margins DCL POLYESTERS is engaged in the manufacture of polyester filament yarn (PFY) and polyester chips. The major raw material consumed by the company includes purified terephthalic acid (PTA), dimethyl terephthalate(DMT), mono ethylene, glycol and polyester chips. The rationalisation of excise duty on polyester oriented yarn (POY) and processed yarn and customs duty on import of PTA and DMT in the Union Budget for 1995-96 proved inadequate against the abnormal increase in the CIF value of these raw materials. Over the past two years, the CIF value of PTA and DMT has risen three limes. In 1995-96 the company's profitability fell drastically mainly due to the constantly escalating price of raw materials from around Rs 57,000 per tonne to Rs 76,500 per tonne. The shortage of raw material added fuel to fire, forcing the company to import its requirements at very high costs from global spot markets.