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Value-added sector gets reprieve from Textile Committee
04 Jun '10
1 min read
Finally, after many deliberations, the National Assembly Standing Committee on Textiles has suggested that the government continue the 15 percent regulatory duty imposed on exports of cotton yarn for an indefinite period.
While announcing imposition of the regulatory duty, the government had decided to impose it till July 12, 2010. According to the Federal Textile Minister, the punitive duty had helped stabilize cotton yarn prices.
The Committee on Textiles was of the view that the regulatory duty should be continued for an indefinite period in order to save the value-added sector as a shortage of 21 percent is expected in the next cotton season.
While announcing imposition of the regulatory duty, the government had decided to impose it till July 12, 2010. According to the Federal Textile Minister, the punitive duty had helped stabilize cotton yarn prices.
The Committee on Textiles was of the view that the regulatory duty should be continued for an indefinite period in order to save the value-added sector as a shortage of 21 percent is expected in the next cotton season.
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