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Govt permits duty-free yarn imports but with rider

11
Jan '10
The Federal Board of Revenue (FBR) has issued a notification freeing imports of cotton yarn from any kind of duty, but with the rider that it cannot be re-sold in domestic markets as well as would be limited for end users of cotton yarn.

This decision was taken at the end of lengthy deliberations by the Cabinet Committee on Textile after reviewing the production, prices and domestic availability of cotton yarn in the country.

At the same time, the committee would keep an eye on exports of yarn from the country which has been pegged at 50 million kgs per month along with reviewing it from time to time and may also take corrective measures if exports cross the aforesaid level.

Fibre2fashion News Desk - India


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