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APTMA reacts strongly to increasing import duty on PSF
03 Jul '09
1 min read
Recently, the Polyester staple fibre(PSF) manufacturers of Pakistan had appealed to the government, to double protection against imports of PSF, to which the All Pakistan Textile Mills Association (APTMA) has reacted strongly.
Responding to the appeal by PSF producers, APTMA said that, on one hand the textile industry was clamouring for a withdrawal of import duty on PSF, on the other hand the PSF manufacturers were demanding an increase in the import duty.
The textile industry is facing a shortage of PSF in the domestic market, due to the closure of a PSF manufacturing plant, for reasons other than related to the recessionary trends. This has led to domestic prices of PSF being relatively higher than global prices.
This prompted the textile sector, to demand a zero-rating on imports of PSF. 20 percent of PSF is consumed by 20 percent of the industry and by about 35 percent of the spindleage in spinning sector and 50 percent in power loom sector.
Responding to the appeal by PSF producers, APTMA said that, on one hand the textile industry was clamouring for a withdrawal of import duty on PSF, on the other hand the PSF manufacturers were demanding an increase in the import duty.
The textile industry is facing a shortage of PSF in the domestic market, due to the closure of a PSF manufacturing plant, for reasons other than related to the recessionary trends. This has led to domestic prices of PSF being relatively higher than global prices.
This prompted the textile sector, to demand a zero-rating on imports of PSF. 20 percent of PSF is consumed by 20 percent of the industry and by about 35 percent of the spindleage in spinning sector and 50 percent in power loom sector.
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