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Waiver of 15% regulatory duty upsets Value-Added Forum
29
Jul '10
Syed Muhammad Aasim Shah, leader of the Value-Added Textile Forum, has denied the Cabinet Committee on Textiles' decision to relinquish the 15 percent regulatory duty and to eliminate the upper cap and restrictions thereof, citing the move to be unfair and irrational.

According to him, the Federal Government was prejudiced as it left aside the readymade garment manufacturers, bedwear and cloth manufacturers, who draw 10 times the foreign exchange then that drawn by those exporting raw material.

Propositions did exist for further extending the regulatory duty for one month, but authoritative and dominant All Pakistan Textile Mills Association (APTMA) managed to capsize this proposition, and got duty-free yarn export rule sanctioned, said Shah. He also added that, though there were similar proposals presented by the made-up industry, government's Committee did not entertain the same.

Shah further said that, government had assured that, it will further carry on with the 15 percent regulatory duty for three months, to safeguard the power looms, bed-wear, towel and the ready-made garment sectors.

However, the duty, which was levied on May 12, was waived just in two-and-half months on July 26. Shah informed that, the duty was levied mainly for the value-added textile industry, who complained of dearth of yarn in the country.

Fibre2Fashion News Desk - India


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