Home / Knowledge / News / Textiles / Pakistan withdraws duty exemption on cotton yarn import
Pakistan withdraws duty exemption on cotton yarn import
18
Apr '14
The Economic Co-ordination Committee (ECC) of the Pakistan’s Cabinet has decided to withdraw duty exemption on cotton yarn import, according to a press release from the Ministry of Finance.
 
The ECC of the Cabinet, which met under the Chairmanship of the Federal Minister for Finance Mohammad Ishaq Dar, decided to withdraw SRO 15(I)/2010, which exempted cotton yarn import from custom duty of 5 percent, in order to check import of cotton yarn, the release said.
 
In recent months there has been a rapid increase in import of cotton yarn and Pakistan’s domestic cotton yarn industry has started feeling the heat of extraordinary liberal tariff regime.
 
Meanwhile, SM Muneer, Chairman of the Trade Development Authority of Pakistan (TDAP), has said that the appreciation of Pakistani rupee against the US dollar has adversely affected export-oriented sectors, including textiles, and has urged the Finance Ministry should work for resolving this issue.
 
During the eight-month period from July 2013 to February 2014, Pakistan’s textile and apparel exports increased by 8.28 percent year-on-year to US$ 9.155 billion, while its imports also grew by 2.92 percent year-on-year to$1.737 billion, according to the data from the Pakistan Bureau of Statistics.

Fibre2fashion News Desk - India

Must ReadView All

Apparel/Garments | On 23rd Feb 2017

NAFTA renegotiation puts Mexico-US jeans trade at risk

The almost imminent renegotiation of the North America Free Trade...

Rick Helfenbein (left), president and CEO of AAFA, with Juan Estrada, chief of party, Hub; Courtesy: Hub

Apparel/Garments | On 23rd Feb 2017

AAFA inks agreement for best manufacturing in East Africa

The American Apparel & Footwear Association (AAFA) has entered into a ...

Mango vice-chairman and member of the board of directors Daniel Lopez (L) with Ananth Narayanan, CEO, Myntra & Jabong. Courtesy: Myntra

Apparel/Garments | On 23rd Feb 2017

Mango awards distribution & management rights to Myntra

Mango, the Spanish fast fashion brand, has awarded its master...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search