All Pakistan Textile Mills Association (APTMA) Chairman Tariq Saud has said that his association did not approach the ministry of commerce to remove 10% regulatory duty (RD) on the import of fine counts of cotton yarn from India.
He said that after the imposition of regulatory duty imports had in fact increased, making Pakistan the fourth largest importer of Indian yarn after China, Bangladesh and Turkey. He further added that the National Tariff Commission had also accepted the fact that Indian yarn has damaged the domestic industry.
“The fine counts of cotton yarn are mostly used in domestic consumption and their made-ups are not exported,” said Saud.
To save the export-oriented textile industry, Saud demanded the government increase the duty to 20%.
Published in The Express Tribune, February 26th, 2016.
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