KARACHI: The Value-added textile sector, along with Pakistan Hosiery Manufacturers Association, has flayed the 10 percent regulatory duty slapped on cotton yarn import from India.
The chairmen of all value-added textile associations also termed this duty as death warrant for the industry and demanded the government to withdraw it immediately.
The federal government imposed the regulatory duty on yarn import from India on Saturday last week after the All Pakistan Textile Mills Association (Aptma) announced a countrywide strike to close its 400 member spinning mills.
The meeting said that the government’s decisions, except the reduction in long-term financing facility and export refinancing rates, only supported the spinning sector. The duty decision will jack up the cost of goods produced by the value- added textile sector.
It was noted, in the meeting that the biggest crisis is in the value-added sector, which exports 80 percent of total textile exports in monetary terms. The participants said their viewpoints were completely overlooked.
Meanwhile, Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) Sindh-Balochistan zone Chairman Irfan Ali sent letters against the duty to the prime minister, finance minister and chairman of Federal Board of Revenue.
Reacting over the government’s decision, Ali said exports are already declining and an additional input cost will be a death warrant for the most important foreign exchange earning sector.
