Chairman APTMA demands 15pc RD on import of MMF Yarns
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.