Cabinet body slaps 15% duty on yarn exports

The cabinet committee on textiles imposed 15 per cent regulatory duty on exports of all types of yarn.

KARACHI: The cabinet committee on textiles, in a meeting on yarn crisis in Islamabad on Wednesday, imposed 15 per cent regulatory duty on exports of all types of yarn with immediate effect.

The duty will remain in force for two months. Earlier, the Pakistan Apparel Forum (PAF), which staged demonstrations and a strike across the country on Tuesday, said it would continue the protest drive against yarn exports and high prices. PAF Chairman Jawed Bilwani said: “We will continue with the protests until the government bans yarn exports.” The government should have banned or imposed 25 per cent regulatory duty on yarn exports due to its shortage and high prices in the local market, he said. PAF will hold a meeting on Thursday to decide its future line of action.

Former chairman of the Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Bilal Mulla said that PAF would meet on Thursday to decide its future strategy on the issue. Replying to a query, he said the value added textile sector would continue protesting in Punjab, which was their decision. But, “we here in Karachi did not plan more protests on Wednesday,” he said.

Published in the Express Tribune, May 13th, 2010.