PAKISTAN: Textile makers request yarn duty extension
Garment and textile manufacturers in Pakistan are seeking an extension of regulatory duties on yarn exports from the country - which are currently due to expire on 26 July.
The Value Added Textile Forum (VATF) has written a letter to President Asif Ali Zardari requesting the duty for two more months. It was originally imposed on 12 May after widespread protests by textile makers.
On the other hand, the All Pakistan Textile Mills Association (APTMA), representing yarn producers in the country, wants the duty to lapse on its due date.
Shahzad Ahmed, chairman of APTMA, said in a statement that the intervention in the textile trade only served to distort the market and no sector could derive any benefit from this. He said that it had caused more than 50 yarn producing plants to close during the last two months.
Pakistan produces around 2.7m tonnes of yarn annually, with around 75% consumed within the country and 25% exported to countries like Hong Kong, China, Bangladesh, Turkey and Korea.
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