The CEC apprehended that the imposition of import duty on cotton would erode the viability and competitiveness of industry and nullify the gains in exports during the last one year.
The CEC also rejected the imposition of 11 percent duty on import of cotton from July 15, as the domestic cotton production in the coming season is expected to be even less than 10 million bales and the industry will have to import more than five million bales to meet the shortage. The CEC also criticised reduction in rebate and exclusion of yarn and fabric from the list.
The spokesman said that the Aptma CEC met with group leader Gohar Ejaz and Aamir Fayyaz in the chair to consider developments regarding imposition of duty on cotton and changes in the export package by the previous government.
A spokesman for the association said that, â€œBut the package has revealed that it would be extended to the Indian products.â€ adding that, â€œIt was agreed between the Aptma leadership and the previous government that rebate would be offered on indigenous materials.â€
The Central Executive Committee (CEC) of the All Pakistan Textile Mills Association (Aptma) has rejected the textile package being extended by the previous government, saying that it would reverse 15 percent growth in exports, according to the statement. The previous government had repeatedly assured the textile industry of the continuation of the original package, announced 18 months ago in January 2017, it said. The previous government had further assured that it would strictly be available for exports from indigenous materials.
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