Home / Knowledge / News / Textiles / Pak importers want withdrawal of duty on spun yarn

Pak importers want withdrawal of duty on spun yarn

11
Aug '20
Pic: Shutterstock
Pic: Shutterstock
Pakistani textile importers recently requested the government to withdraw the 2 per cent regulatory duty on polyester spun yarn, arguing it can substantially hurt the textile industry and exporters. Federation of Pakistan Chambers of Commerce and Industry (FPCCI) standing committee on imports chairman Khawar Noorani requested Prime Minister Imran Khan to withdraw the duty to protect the sector from disaster.

“If relief is not provided by the government to deal with the severe economic crisis in the wake of COVID-19 pandemic, we fear that the textile industry will reach the brink of collapse, and traders and industrialists will go bankrupt,” he said in a statement last week.

Noorani said the textile sector relied on imported polyester spun yarn to continue production as domestic manufacturers are unable to meet the industry’s demand. The domestic industry meets about 30-35 per cent of the total yarn demand in Pakistan while the remaining is covered by imports.

“Despite this, local yarn manufacturers have created a monopoly and they continue to take full advantage of the lack of government supervision by setting arbitrary prices for yarn,” he said. He regretted that by imposing regulatory duty on yarn import, the government had jeopardised the entire textile sector while local yarn manufacturers continued to benefit, according to Pakistani media reports.

Fibre2Fashion News Desk (DS)


Must ReadView All

Pic: Poshmark

E-commerce | On 29th Sep 2020

Used clothing platform Poshmark files to go public

Poshmark, an online resale marketplace for second-hand clothing,...

Pic: Neiman Marcus

Retail | On 29th Sep 2020

Neiman Marcus Group completes Chapter 11 process

Neiman Marcus Holding Co. has announced emerging from voluntary...

Pic: Shutterstock

Textiles | On 29th Sep 2020

Indorama Ventures posts H1 FY20 revenue of $5.28 bn

Indorama Ventures Limited (IVL), a global chemical producer, has...

Interviews View All

Pratik Bachkaniwala, Palod Himson Machines

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Amrit Sethia, SOIE

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Top executives, Textile industry

Top executives
Textile industry

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

Lukas Hartmann,

Lukas Hartmann

Intex Consulting GmbH is a completely integrated enterprise resource...

Milva Morani,

Milva Morani

Brighi Technologies began in 1970 with trading and repairing sewing...

Simon Daplyn,

Simon Daplyn

Switzerland-based Sensient Imaging Technologies is a pioneer with a global ...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Marcel Alberts, Eurofibers

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

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


September 2020

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


Advanced Search