Pakistan already has 5 percent import duty on import of cotton yarn with the governmentâ€™s proposal of additional import duty the value added textile sector will be unable to import cotton yarn from India, as it will greatly increase their cost of doing business.
Textile value added sector flayed governmentâ€™s proposal imposing additional duty on import of cotton yarn from India.
Value added textile sector would find it expensive to import yarn from India, which otherwise they could import if there was absolutely no duty imposed by the government thereby greatly enhancing their exports.
Value added textile export sector contributing more than 80 percent of total textile exports of country and generates employment around 38 percent of the total employment of industries needs protection.
Chairman of Pakistan Apparel Forum Jawed Bilwani said that already 5 percent import duty on import of cotton yarn, which should be withdrawn and this proposal on the behest of some large spinners having integrated units would greatly hamper cost of doing business of value added textile sector, the sector exports earnings stood at $11.49 billion yearly more than that of these spinners.
Spinners lobby always voiced vociferous support for free market mechanism and neither rein on imports of cotton yarn nor any duty on import of cotton yarn.
All over the world export of raw material is greatly discouraged and restricted however import of raw material is always allowed for value addition and earning more foreign exchange.
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