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
Dastgir says there is no progress on improving trade ties with India. PHOTO: FILE
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 4th, 2017.
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 4th, 2017.