Pakistan’s value-added textile export sector has urged Prime Minister Shahid Khaqan Abbasi to abolish all duties and taxes on cotton yarn import to help earn foreign exchange and reduce trade gap that touched $18 billion during the July-December period of fiscal 2017-18. Cotton yarn is not easily available in the domestic market owing to low cotton yield.
The sector has the largest share in the total textile exports of Pakistan and cotton, according to Muhammad Jawed Bilwani, chairman of Pakistan Apparel Forum and chief coordinator of the country’s value-added textile export sector.Pakistan's value-added textile export sector has urged Prime Minister Shahid Khaqan Abbasi to abolish all duties and taxes on cotton yarn import to help earn foreign exchange and reduce trade gap that touched $18 billion during the July-December period of fiscal 2017-18. Cotton yarn is not easily available in the domestic market owing to low cotton yield.#
Bilwani said a 30 per cent rise in cotton yarn prices has made the value-added textile export sector uncompetitive in the international market. There is a fear that exporters may fail to meet export orders booked six months back if immediate attention is not paid by the government to the issue, Pakistani media reports quoted him as saying.
Globally import of raw material is allowed duty free while export of the same is restricted to benefit value addition to earn foreign exchange, he added. (DS)
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