All Pakistan Textile Mills Association (Aptma) has demanded for immediate remedial measures against the anomalous increase in dumping of Indian cotton yarn by the Ministry of Commerce (MoC). There is 100 percent rise in dumping of Indian yarn mainly fine counts meant to produce and launch around 140 products under different popular brands annually which is putting the viability of local textile industry at stake.
On Wednesday, Aptma Chairman S M Tanveer said that import data suggested 26,000 tonnes of Indian cotton yarn was dumped in 2013-14 against around 17,000 tonnes in 2012-13. The dumping phenomenon has reached 2,500 tonnes per month during July-Nov 2014-15.
With India imposing 10 percent customs duty on yarn import besides 12percent countervailing duty (CVD) and 4percent Special CVD, which brings the cumulative impact of 30pc on import stage, in Pakistan there is a nominal import duty of 5 percent and nothing more. Therefore, Pakistan is an ideal market for dumping purposes.
On the other end, India to encourage yarn exporters is offering incentives including over 10 percent rebate, 5percent discount on interest payment for attracting new investments besides state level subsidies on electricity to undertake investment at zero interest rates.
Aptma has urged Commerce Minister Khurram Dastagir to exercise public interest clause with immediate effect under 7(b) of the Safeguard Measures Ordinance, 2002.
The heavy influx of yarn from India is a big blow to the domestic textile industry of Pakistan. With Pakistan already facing hike in gas tariff the cost of doing business is raising due to which Pakistani exporters are losing their competitive edge in international market.
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