Home / Knowledge / News / Textiles / Pakistan mulls removing import duty on fine yarn
Pakistan mulls removing import duty on fine yarn
27
Feb '16
Pakistani Commerce Minister Engineer Khurram Dastgir said the government was considering removing the 10 per cent regulatory duty on fine yarn import but would keep the duty on coarse yarn in an effort to protect the commodity produced in the country.

He told reporters in Islamabad that Pakistan mainly imported fine yarn from India, Central Asian states and other countries to bridge the demand and supply gap following the drop in cotton production in the country.

He said the ministry was mulling withdrawing 10 per cent regulatory duty on fine yarn keeping in view the domestic demand. However, the duty on coarse cotton yarn will stay in place to give protection to the domestic industry as Pakistan mostly produces this type of yarn.
The 10 per cent regulatory duty came into force from November 1, 2015.

The minister declared that there was no progress on improving trade relations with India, but with Afghanistan some headway had been made in terms of trade agreements.

He pointed out that Afghanistan was ready to incorporate the TIR convention on international transport of goods into the transit trade agreement and as a result Pakistani containers would not be charged duties and taxes. Pakistan became a member of the TIR framework since January 21 this year.

Dastgir also revealed that there had not been any significant progress in negotiations on second phase of the free trade agreement with China since Beijing was not willing to give 90 per cent access to its markets from the existing 35 per cent.

Talking about planned free trade deals with ASEAN, he said Pakistan was keen to give all those concessions to them including Thailand that it had already been given to China. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

US & EU retailers release industry approach to GDPR

Apparel/Garments | On 24th May 2018

US & EU retailers release industry approach to GDPR

The Washington, D.C.-based National Retail Federation and...

Global cotton consumption to reach record in 2018-19: USDA

Textiles | On 24th May 2018

Global cotton consumption to reach record in 2018-19: USDA

Reflecting continued growth in the global economy, world cotton mill...

Courtesy: Nanollose

Textiles | On 24th May 2018

Nanollose develops fabric from coconuts

Australian technology company Nanollose has developed a sustainable...

Interviews View All

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Top executives
Textile industry

Defining MSMEs on the basis of turnover makes it simpler to do business

Rajat Jaipuria

Activewear brand Soul Space promotes organic cotton farming and...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Kai Poehler
Voith Paper GmbH & Co. KG

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Sanjukta Dutta
Sanjukta's Studio

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

Leave your Comments


May 2018

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

news category


Related Categories:

Advanced Search