The All Pakistan Textile Mills Association demanding for 15 percent Regulatory Duty on import of subsidized fine count yarn, mainly from India as India is capturing Pakistanâ€™s domestic market of fine cotton yarn by design which can be controlled without disturbing the DTRE scheme or import under manufacturing bond.
According to a spokesman, APTMA is itself major stakeholder but it is still asking for imposing regulatory duty on a specific product in the larger interest of domestic industry.
He said that APTMA have repeatedly being clarifying that it is in favour of free market mechanism and seeking countervailing/ regulatory duty on domestic use of imported fine count cotton yarn.â€™ It is alarming to note that import of fine count cotton yarn has reached to 30,000 tons in 2014 against 6,500 tons in 2012. The import data of first six months of current fiscal reveals that 3000 tons per month fine count cotton yarn is entering Pakistan from India, further added that 90pc of imports are originating from India on the basis of unstructured rebate to its manufacturers.
According to the official data Pakistan produces 200,000 tons fine count cotton yarn annually, out of which only 65,000 tons is exported while 135,000 tons is consumed in the domestic market. However, India has offered 10 percent rebate on export of fine count cotton yarn simply to dump it in domestic commerce of Pakistan.
Due to this, the future of 30 mills manufacturing fine count cotton yarn is at stake and employment of hundreds and thousands of workers is under threat.
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