KARACHI: All Pakistan Textile Mills Association Chairman Tariq Saud has categorically denied the statement of Minister Commerce Khurram Dastgir Khan that the association has approached him to remove 10 percent regulatory duty on the import of fine counts of cotton yarn from India.
In a statement issued on Thursday, Tariq said in fact the import of fine counts of cotton yarn, after imposition of 10 percent regulatory duty, has further increased import from India and now Pakistan is the fourth largest importer of Indian yarn after China, Bangladesh and Turkey. He further said that the National Tariff Commission has also accepted the fact that Indian yarn has damaged the domestic industry.
He said that the fine counts of cotton yarn are mostly used in domestic consumption and their made ups are not exported. As India’s export of yarn, especially fine counts of cotton yarn to China has reduced, therefore India is dumping the surplus yarn in Pakistan’s market at throwaway prices, he added.
In order to save the export oriented textile industry of Pakistan from total closure, the APTMA chairman has strongly demanded the government to increase the regulatory duty on fine counts of cotton yarn especially from India to 20% as the imposition of regulatory duty has not helped in dampening the cheap imports of Indian yarns.