LAHORE: All Pakistan Textile Mills Association (Aptma) has asked the government to stop dumping of Indian yarn as 26,000 tonnes of Indian cotton yarn was dumped in 2013-14 against around 17,000 tonnes in 2012-13.
Aptma Chairman S M Tanveer urged the Ministry of Commerce to take note of this abnormal surge in dumping of Indian cotton yarn to save the local textile industry.
He said that the dumping phenomenon has reached 2,500 tonnes per month during July-Nov 2014-15 and there is 100 per cent rise in dumping of Indian yarn predominantly fine counts meant to produce and launch around 140 products under different popular brands annually, is hurting the local textile industry.
“India is offering incentives to its yarn exporters including over 10 per cent rebate, 5pc discount on interest payment for attracting new investments besides state level subsidies on electricity to undertake investment at zero interest rates,” he said.
“While India has imposed 10pc customs duty on yarn import besides 12pc CVD and 4pc Special CVD, which brings the cumulative impact of 30pc on import stage, in Pakistan there is a nominal import duty of 5pc and nothing more. Therefore, Pakistan is an ideal market for dumping purposes,” he added.
He urged Commerce Minister Khurram Dastagir to exercise public interest clause with immediate effect under 7(b) of the Safeguard Measures Ordinance, 2002.
