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PSYMA seeks withdrawal of duty on polyester yarn
24 May '10
1 min read
With a view to amplify the supply of man-made yarn, a 16-member delegation of Pakistan Silk Yarn Merchants Association (PSYMA), discussed withdrawal of anti-dumping and customs duty on polyester yarn with the Federal Adviser on Textiles, Dr Mirza Ikhtiar Baig, in a meeting at his office.
Two to three domestic companies in Pakistan, which are the only polyester yarn producing firms in the country, have managed to impose 3 to 21 percent anti-dumping and custom duty on polyester yarn imports, particularly from Thailand and Korea, to enjoy monopoly in this sector.
Such duty imposition has taken a toll on the utilization of polyester yarn in the value-added textile sector and has caused heavy dependency on cotton yarn. The current yarn crisis is a result of restriction on the imports of polyester yarn for value-added sector, condemned the members of the association.
Two to three domestic companies in Pakistan, which are the only polyester yarn producing firms in the country, have managed to impose 3 to 21 percent anti-dumping and custom duty on polyester yarn imports, particularly from Thailand and Korea, to enjoy monopoly in this sector.
Such duty imposition has taken a toll on the utilization of polyester yarn in the value-added textile sector and has caused heavy dependency on cotton yarn. The current yarn crisis is a result of restriction on the imports of polyester yarn for value-added sector, condemned the members of the association.
Fibre2Fashion News Desk - India
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