KARACHI/LAHORE – The Value Added Textile Associations (VATA) regretted that the value added textile industries have been suffering huge losses and several of them have been compelled to close down just because of high costs of doing business, and demanded withdrawal of 5 percent on import of cotton yarn.
Addressing a conference, VATA spokesman Muhammad Jawed Bilwani, said that the 5pc duty on import of cotton yarn is adding to the industry’s burdens. He said, “There has been mass closure of weaving units. If cost of doing business especially of price of raw material is brought down then exporters will get orders from foreign buyers resultantly weaving units will get business from the exporters and will save those weaving units which are on the verge of closure.”
Addressing a meeting of the manufacturers of fine counts cotton yarn at APTMA Punjab office, the APTMA chairman has demanded the imposition of 15 percent regulatory duty on entry of subsidised fine count cotton yarn, predominantly from India.
He said that it is alarming to note that annual import of fine count cotton yarn from India has reached to 30000 tones in 2014 against 6500 tones in 2012. He said that the spinners expressed deep concerns over heavy influx of highly subsidised fine count cotton yarn from India with over 25pc subsidisation, affecting the viability of thirty local mills.
Govt seeks proposal to cut GST on dairy products to 10pc
LAHORE: Federal Minister for Commerce Jam Kamal Khan has directed the Pakistan Dairy Association to submit proposals for reducing general...
