Home / Knowledge / News / Textiles / Spinners call for zero duty on yarn exports
Spinners call for zero duty on yarn exports
08
Jun '10
Spinners, while rekindling their demand for elimination of 15 percent regulatory duty on export of yarn, have appealed the textile ministry to permit export of those consignments at zero percent duty in respect of which credit letters were already sanctioned or payments have already been received, prior to May 13.

Spinners, by means of a letter, remitted to the Textile Minister, Rana Farooq Saeed, evoked him of the meetings with him on 30-31 May in Karachi, which were conducted to sort out the export duty issue. They, thereby, asserted that, no duty should be levied on cotton and yarn exports pursuant to DTRE and manufacturing bonds.

They also demanded that, all duties in respect of the value-added yarn, which is exported at a rate equal to or higher than $3.5 per kg, should be done away with as also the quantitative restriction should be removed. This atleast should be allowed, $3.5 per kg is quite a high price as compared to the normal rates at which towels and fabrics are being exported, that too with no restriction or duty imposition.

According to the producers, the regulatory duty imposed on yarn exports, was punitive and thus, denied to accept any such restrictions in respect of exports. The spinners have insisted that, the government order, which levied an export duty on yarn for 60 days, be called off by July 12.

They further informed that, over the past 21 days, post implementation of the duty, they have mounted stocks worth $125 million and were afraid that, while the minister was not ready to mull over their demand of quashing the duty on exports of yarn, the exporters seemed to have made up their minds to accept the regulatory duty imposition.

Fibre2Fashion News Desk - India

Must ReadView All

Textiles | On 23rd Mar 2017

South Korean Samil Spinning acquires Buhler Quality Yarns

South Korean yarn producer Samil Spinning has acquired US based...

Apparel/Garments | On 23rd Mar 2017

E-retailers to pay up to 1% TCS under GST

E-retail marketplaces will need to deduct up to 1 per cent tax...

Textiles | On 23rd Mar 2017

Lanxess to expand chemical intermediates capacity

The Advanced Industrial Intermediates business unit of German...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Jurgen Gauger
Spreadshirt

‘Buying crowdsourced or creative designs are much more appealing to the...

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

news category


Related Categories:
March 2017

March 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