SIALKOT: The Pakistan Hosiery Manufacturers and Exporters Association (PHMA) has rejected the imposition of import duty on yarn as it would pose negative impact on the value-added textile sector.
Talking to Customs Today, Sialkot PHMA Chairman Ziaul Rehman Chaudhry said that the PHMA stands with the Pakistan Readymade Garments Manufacturers and Exporters Association, and all other business associations which have already expressed resentment on the proposed move. Ziaul Rehman went on to say that Pakistan’s value-added textiles in general and the apparel export sector in particular are under severe pressure due to hard competition in the international market from countries like Bangladesh, Vietnam and Cambodia etc.
In such a situation, any such policy will have direct and spontaneous negative effect on overall business activities since this is the largest employment providing sector of Pakistan, he added.
He further said that apparel industry adds much more value to the cotton of Pakistan than any other sector of textile industry. Hence, it deserves safeguard of its business environment rather than to frame a policy which will go only to the benefit of spinning sector.
