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Yarn trade bodies oppose regulatory duty on yarn exports

15
May '10
All Pakistan Textile Mills Association (APTMA) and Pakistan Yarn Merchants Association (PYMA) have firmly resisted the government's recent move to impose 15 percent regulatory duty on exports of cotton yarn. Spokespersons of APTMA and PYMA here stated that, the decision would concern the core segment of the textile industry, as a significant number of the export deals are under way.

With a view to secure availability of yarn to the downstream industries, a 15 percent regulatory duty on yarn exports was imposed by the Cabinet Committee on Textile on May 13, effective till July 12, 2010.

APTMA spokesperson stated that, within a day or two they intend to move the higher courts to obtain stay order against the move, as any sort of intrusion or temporary measures would not only push the sector to distress, but would also affect the value-added sector, and the economy as a whole.

A spokesperson of PYMA said that, if the spinning industry, which imports 15 percent of its total raw material requirements can still keep functional and compete in overseas markets, then why can't the value-added sector too import and stay competitive, and that to, when unlike the spinning sector, it draws several incentives like export refinance, etc, from the government.

Fibre2fashion News Desk - India


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