PHMA urges duty free import of yarn from India to shun monopoly

YarnsandFibers News Bureau 2014-04-08 09:30:00 – Karachi

Pakistan Hosiery Manufacturers Association (PHMA) during the apparel sector meeting with Abbas Khan Afridi, Federal minister for textile industry urged that the yarn imported from India should be exempted from duty to put a stop to monopolization by the local spinning industry.

PHMA on analyzing trade with India found that the imposition of import duty on raw materials such as yarn will create a negative impact the apparel export sector. The tax imposition will allow local yarn manufacturers to maintain higher prices to restrict competition; which will make it difficult for exporters to survive.

The PHMA put forward the requirement of small quantity of gas and power on regular basis by the value-added apparel sector to gain benefits of the GSP plus scheme and stay in competition with countries like India and Bangladesh.

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