Textile sector seeks 5 percent rebate on yarn purchase
KARACHI: A round table conference of value added textile sector has recommended that the government should give local industry a three to five per cent rebate on yarn purchased from the local suppliers.
Egytex News Desk
Source: The International News
“In order to save the value-added textile sector the government would review quota of 35,000 tons on yarn export,” said Mirza Ikhtiar Baig, federal advisor, ministry of textile at the conference organized by the Pakistan Denim Manufacturers and Exporters Association at a local hotel on Monday said.
The conference observed that the cotton price in the international market has increased by 22 percent whereas in Pakistan it increased by 70 percent due to short supply. Yarn prices in Pakistan increased by around 75 percent.
Baig said he has suggested duty free import of polyester yarn in line with duty free import of cotton yarn for the exports.
The textile sector should not be made to pay the cross subsidy for fertilizer sector, he said.
Six major European countries were willing to give duty free market access and preferential tariff rates to Pakistan.
Source: The International News
From the Egytex news archive, first published on 20 April 2010. Figures and names are as reported at the time.
