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FTA with China would badly hurt the manufacturing sector of Pakistan

YarnsandFibers News Bureau 2018-04-11 12:06:00 – Karachi

Zubair Motiwala, former president of the Karachi Chamber of Commerce and Industry (KCCI), said that there is more demand for polyester yarn in Pakistan than its current imports.Pointing towards the local manufacturers, he said these people had suffered a lot in terms of tariff, taxes and other issues. “There is a scope for more polyester yarn exports,” he added. “Human- and environment-friendly polyester yarn can be developed, which is needed in Pakistan,” he said.He added that, “Skill development is required for labour, management and bosses.”Motiwala also suggested that the Chinese industrialists to provide training to high management, as well as labourers in Pakistan.” There is a limit of producing cotton; thus, more demand for the polyester products is felt, as it is artificial and its production could be increased.Polyester is not only used in clothing, but could be used in dams and other building materials, he said

They are one of the largest polyester yarn manufacturers and catered to the local industry of China as told by Terry Miao of Shenghong Corporation,He also expressed the hope that their trade with the Pakistani partners continues beyond 30 to 40 years

Zahid Umer, senior member of Pak-China Business Council of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), said that there are talks of inclusion of 6,000 items in the duty-free import from China under the FTA, which will end Pakistani industry, addressing at a ceremony on the completion of 10 years of trade with China’s Shenghong Corporation and importer Pakistan’s polyester yarn Asif Textile.He also said that the industry has concerns over inclusion of 3,000 items in the duty-free list trade with China. Talking about the impact of China-Pakistan Economic Corridor (CPEC) on the local industry, he said Pakistani traders and industrialists are more interested in buying real state in Gwadar and are concerned about prices of their plots only, not the industry.Under CPEC, he said, very little contacts were made between people-to-people.He said that,“There is only government-to-government contact going on.”

Free trade agreement (FTA) with China would badly hurt the manufacturing sector of Pakistan as expressed by businessmen and investors

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