Home / Knowledge / News / Textiles / '6% PSF import duty ruined Pak textile industry'
'6% PSF import duty ruined Pak textile industry'
14
May '15
The All Pakistan Textile Mills Association (APTMA) has said that six per cent import duty on import of polyester staple fiber (PSF) has ruined the textile industry as it has become uncompetitive when incidental charges are added to the import duty, the Pakistani media has reported.

APTMA Chairman SM Tanveer said the regional competitors are offering duty drawbacks besides rebate to their textile industries. As a result, textile exports from Pakistan has become 18 per cent more expensive against the regional competitors due to higher domestic polyester fibre price e.g. in China, the FOB price for PSF is 70.1 yuan/kg (US $ 1.13/Kg.) whereas in Pakistan it is Rs 137/Kg. ($1.34 /Kg), this difference is further compounded by the higher cost of doing business.

Textile industry in Pakistan is becoming unviable in terms of export of yarn and fabric he said, the industry growth has become stagnant due to non-diversification.

He further highlighted that the world dependence on polyester is around 70 per cent at present against merely 19 per cent in Pakistan. This situation has made it difficult for local industry to find a foothold in the world market.

Tanveer said, unlike India, China, Bangladesh and other competitors there is also no duty drawback for industry in Pakistan, As a result, the import of PSF yarns into Pakistan has also started in huge quantities, so far during the first ten months of the current fiscal year over 38,000 tons of man-made fibre yarn has been imported from the Far East and India. (SH)

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 19th Jan 2017

Pakistan imposes duty on Indian fine cotton yarn

A provisional countervailing duty ranging from Rs 26.89 to Rs 55.8 a...

Textiles | On 19th Jan 2017

Union Budget: Textile sector expects excise duty revisions

Excise duty on man-made fibres should be reduced to bring it on par...

Union textiles minister Smriti Irani at the inauguration of IIGF in New Delhi with textiles secretary Rashmi Verma and other dignitaries. Courtesy: PIB

Apparel/Garments | On 19th Jan 2017

Ministry to reimburse apparel exporters for state levies

The textile ministry has received a sum of Rs 500 crore from the...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

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

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Mohammad Hassan
Biax Fiberfilm

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

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Mike Hoffman
Gildan Activewear SRL

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

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
January 2017

January 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