PYMA urges govt to save sector

The duty on polyester filament yarn, which is the basic raw material for the fabric industry, is already high

KARACHI: Pakistan Yarn Merchants Association (Sindh-Baluchistan Zone) (PYMA) Chairman Danish Hanif, while rejecting the proposal to impose 5% regulatory duty on import of synthetic filament yarn of polyester, urged the government to save Pakistan’s polyester filament fabric industry from total collapse. In a statement, PYMA Chairman said that duty on polyester filament yarn, which is the basic raw material for the fabric industry, was already high and hence, another 5% RD was unjustified. He said that on top of this, there is an ongoing anti-dumping duty investigation by National Tariff Commission (NTC) and the preliminary findings came out to be 6.23% (on average) on Chinese Polyester Filament/Synthetic Yarn (PFY). Therefore, the total impact on the import on PFY will be CD 12% + RD 5% (Proposed) + 6.23% anti-dumping duty = 23.23%.

Published in The Express Tribune, June 4^th, 2017.

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