For the next season, the Senate Standing Committee on Textile has suggested that a quantity of 50 million kilogram of yarn be exported on a monthly basis.
The Senate panel has also sanctioned the decision made by the Lower House of Parliament for a month's extension of the regulatory duty on exports of yarn.
The meeting also displayed dejections over reasoning that were presented by the Minister and Secretary for stopping imposition of regulatory duty for two months, despite receiving suggestions for the same by the committee on March 1, 2010.
According to the members, the Ministry delayed the decision under pressures best known to them. On the other side, the Minister and Secretary said that, although their decision was on time, the delay was owing to the All Pakistan Textile Mills Association (APTMA) who had lodged a petition with Lahore High Court, which turned the matter, sub judice.
The Secretary also informed that, net 604 million kg of yarn was exported, but the demanded quantity of 700 million kg would have been exported, had the regulatory duty not been imposed.
Fibre2Fashion News Desk - India