Chair­man APTMA de­mands 15pc RD on im­port of MMF Yarns

The Pak Banker - - NATIONAL -

The All Pak­istan Tex­tile Mills As­so­ci­a­tion Chair­man Tariq Saud has de­manded of im­pos­ing 15 per­cent Reg­u­la­tory Duty on the im­port of Man Made Fibers, par­tic­u­larly the Polyester Vis­cos Yarn, Polyester Cot­ton Yarn and Pure Polyester Yarn. He said an emer­gent meet­ing of the mem­ber mills held at the Pun­jab of­fice of the As­so­ci­a­tion to re­view the im­port sta­tis­tics of the Man Made Fiber yarn for do­mes­tic con­sump­tion, which has in­creased by four times in last four years and likely to reach to 57000 tones per an­num by the end of 2015-16.

He said the surge in the port of MMF yarns has be­come a mat­ter of se­ri­ous con­cern for the do­mes­tic in­dus­try and pos­ing a se­ri­ous threat to the sur­vival of about two mil­lion spin­dles with over three mil­lion di­rect and in­di­rect work­force at­tached with this in­dus­try both up­stream and down­stream. He fur­ther said the tex­tile in­dus­try has been rep­re­sent­ing the is­sue with the gov­ern­ment, seek­ing an im­me­di­ate im­po­si­tion of 15 per­cent Reg­u­la­tory Duty on the im­port of all Man Made Fibers yarns. "An unchecked im­port of yarns has hit the vi­a­bil­ity of the do­mes­tic spin­ning yarn in­dus­try, which is also threat­en­ing the sur­vival of do­mes­tic PSF pro­duc­ers and the PTA in­dus­try by and large," he said.

"Both the up­stream and down­stream in­dus­tries as well as millions of di­rect and in­di­rect jobs are un­der threat and needs im­me­di­ate in­ter­ven­tion by the gov­ern­ment," he added. He said the pro­duc­tion, mar­ket­ing and fi­nances of the spin­ning mills has been ex­posed to risks and turn­ing into un­vi­able units de­spite the avail­abil­ity and af­ford­abil­ity of en­ergy these days. "Spin­ning mills are un­able to reap the ben­e­fit of the cur­rent im­prove­ment in the sup­plies of en­ergy," he added. Chair­man of the As­so­ci­a­tion has urged the gov­ern­ment to act im­me­di­ately and en­sure the prin­ci­ple of 'first right of the do­mes­tic in­dus­try' on the do­mes­tic com­merce by im­pos­ing 15 per­cent Reg­u­la­tory Duty to stop the in­roads of sub­sidised yarns into the do­mes­tic mar­ket.

Newspapers in English

Newspapers from Pakistan

© PressReader. All rights reserved.