"This is a welcome development that shows government is intent on clamping down on resin smuggling. Such activities have severely hurt the local petrochemical industry," said Willie Paras, APMP chairman.
The seizure was made by the newly formed National Anti-Smuggling Task Force (NASTF) of the National Anti-Crime Commission under the Office of the President yesterday morning. The Task Force is headed by lawyer Jun Milan.
The containers, mostly consigned to Fame Plastic Products, a manufacturing firm operating its own customs bonded warehouse (CBW) in Bulacan, were diverted to the warehouse of Chemvision, a trading firm located in Quezon City.
Paras stressed that the seizure of the technically smuggled plastic resins is "a positive sign" that the present administration is serious in addressing the problem of resin smuggling.
"Smuggling is one of the biggest, most serious problems of the local petrochemical industry and we are glad that government is doing something to address the problem as evidenced by the action of the NASTF," Paras said.
CBWs are allowed by law to import raw and semi-processed materials duty and tax free as an incentive for legitimate export firms. Some CBWs, however — as in the case of the seized goods — have resorted to the illegal sale of imported plastic resins in the local market, resulting in huge losses for local manufacturers.
As a result of these illegal activities, government has lost an estimated P572 million a year in revenues, aside from threatening the viability of operations of local firms.