PAKISTAN: Cotton shipments stuck at port
Over 200 cotton yarn export containers are stuck at Pakistan’s Karachi Port due to a new 15% regulatory duty on the exports of all kinds of yarns from the country.
The customs authorities in Pakistan have refused to clear the yarn shipments without payment of the duty.
Gohar Ejaz, chairman of the All Pakistan Textile Mills Association (APTMA) Punjab said that the stranded containers can neither be exported nor brought back as the foreign buyers have refused to pay the duty or increase their yarn rates.
He said the country would suffer a loss of US$150m a month in exports due to the duty on yarn exports
Sectors: Fibres & fabrics
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