All Pakistan Textile Mills Association Chairman Tariq Saud at an emergent meeting of the member mills held at the Punjab office of the Association to review the import statistics of the Man Made Fiber yarn for domestic consumption demanded of imposing 15 percent Regulatory Duty on the import of Man-made fibers, as it increased by four times in last four years and likely to reach to 57000 tones per annum by the end of 2015-16.
The surge in the port of MMF yarns has become a matter of serious concern for the domestic industry and posing a serious threat to the survival of about two million spindles with over three million direct and indirect workforce attached with this industry both upstream and downstream.
He further said that the textile industry has been representing the issue with the government, seeking an immediate imposition of 15 percent Regulatory Duty on the import of all Man Made Fibers yarns particularly the polyester viscose yarn, polyester cotton yarn and pure polyester yarn.
An immediate intervention by the government is needed as both the upstream and downstream industries as well as millions of direct and indirect jobs are under threat.
An unchecked import of yarns has hit the viability of the domestic spinning yarn industry, which is also threatening the survival of domestic PSF producers and the PTA industry by and large.
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