GOOD NEWS for paper companies! Ban on single use plastic from July 1, 2022; Anil Singhvi explains how it will impact Paper stocks

There is a big news for paper companies which has triggered good action in shares related to paper companies on Friday. The central government has issued a notification regarding plastic waste management rule, informed Zee Business Managing Editor Anil Singhvi.

As per the information, government has issued rule for plastic waste management under which they have issued the date for banning the use of single use plastics. Manufacturing, import, stocking, distribution, sale and use of single use plastic like earbuds, plastic sticks, balloons, plastic flags, candy and ice cream sticks will be banned from July 1, 2022.

See Zee Business Live TV Streaming Below:

Plastic plate, cutlery, cup, glass will also be banned from July 1, 2022. Plastic carry bag of 75 GSM will be banned from September 30, 2021, while plastic carry bag of 120 micron will be banned from December 31, 2022, as per the information provided by Chetan Bhutani, Special Correspondent at Zee Business.

Anil Singhvi speaking on the same said that it is a big news for paper industry. He said that paper stocks are showing great action on Friday, August 13, and the notification regarding the plastic waste management rule is the reason behind the same.

पेपर कंपनियों के लिए बड़ी खबर...

ईयर बड्स, गुब्बारे, झंडे, कैंडी में इस्तेमाल होने वाले प्लास्टिक स्टिक पर 1 जुलाई 2022 से रोक लगेगी, नोटिफिकेशन जारी#SingleUsePlastics @AnilSinghvi_ @BhutaniChetan pic.twitter.com/h4EEGfa4We

— Zee Business (@ZeeBusiness) August 13, 2021

While Chetan confirmed that the notification has been officially issued by the government and informed that Prime Minister Narendra Modi has said in his 'Pragati Meetings', the meetings held for infrastructure review, that the focus should be on paper and jute carry bags.

Chetan further said that the other officials present in the meeting said paper is the best alternative of plastic as recycled paper are very strong and can even replace plastic.