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2% compensatory rebate denied to yarn exporters
14 Apr '10
1 min read
According to reports emanating from the textile industry in Pakistan, the federal ministry of textiles has refused to pay the 2 percent compensatory incentive to the spinners, which was promised to them in lieu of the cap placed on exports of cotton yarn.
According to Mr Akber Sheikh, Director of Amjad Textile Mills and Vice-Chairman of All Pakistan Textile Mills Association (APTMA), who spoke to fibre2fashion, said, “In the past, there was an indication that the same would be paid, but it has not been legislated yet.”
When asked, if the spinners expected to be compensated with the rebate he replied by saying, “There are obvious chances in future of implementation, but at present it is not an official stance of the federal textiles ministry.”
According to Mr Akber Sheikh, Director of Amjad Textile Mills and Vice-Chairman of All Pakistan Textile Mills Association (APTMA), who spoke to fibre2fashion, said, “In the past, there was an indication that the same would be paid, but it has not been legislated yet.”
When asked, if the spinners expected to be compensated with the rebate he replied by saying, “There are obvious chances in future of implementation, but at present it is not an official stance of the federal textiles ministry.”
Fibre2fashion News Desk - India
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