Home / Knowledge / News / Textiles / Duty on yarn exports could shut spinning mills
Duty on yarn exports could shut spinning mills
18
May '10
Terming value-added textile sector's demand for Regulatory Duty imposition on exports of cotton yarn as an illogical demand, a spokesman of All Pakistan Textile Mills Association (APTMA) warns them about closure of the country's spinning mills.

He further added that, the value-added textile sector's demand for such a duty imposition when it is already procuring yarn at lower rates from the country's most efficient spinning sector, as compared to its immediate competitors such as India, China and Bangladesh, was irrational. More so, this is coming at a time when cotton prices are already at $0.95 per pound in the global market, said the spokesman.

It is not feasible for the spinning industry to bring in cotton at higher prices from overseas markets and provide yarn to the domestic ancillary industry at subsidized rates, he said, suspecting that the unscrupulous elements of the industry are providing wrong facts and figures to the Ministry.

According to data released by the Federal Bureau of Statistics, during the period January-March 2010, exports of value-added textile sector increased by 20 percent in terms of quantity as compared to 10 percent decline in yarn exports.

Regulatory Duty imposition on exports of cotton yarn will force around 70 percent of the spinning mills to witness closure, pointed the spokesman.

Around 60 percent of the value-added exports are manufactured from APTMA members with all sub-sectors including fabric, processed clothes, towel, knitwear, bed wear and woven garments. While many oppose restrictions on yarn exports, there are those, who have vested interests behind imposition of this restriction.

Fibre2Fashion News Desk - India

Must ReadView All

Courtesy: Myntra

Apparel/Garments | On 3rd Dec 2016

Myntra to be EBITA positive by FY18: CEO Narayanan

Myntra is on track to achieve sustainable growth and be EBITA...

Courtesy: India ITME Society

Textiles | On 3rd Dec 2016

India ITME 2016 opens with over 1050 exhibitors

The India International Textile Machinery Exhibition (India ITME)...

Courtesy: Bruckner

Textiles | On 3rd Dec 2016

Indian textile companies opt for Brückner stenter lines

Indian textile firms Laxmipati Sarees, makers of polyester sarees and ...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Yashiki Gumber
Sahiba Fabrics

Fabric does not restrict us from fashion trends

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Mohammad Hassan
Biax Fiberfilm

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search