Pakistan Yarn Merchants Association (PYMA) has urged the government to change the duty structure for the textile industry as announced in the budget document to create vast employment opportunities.

Hanif Lakhany, Senior Vice Chairman, PYMA and Vice President, Federation of Pakistan Chambers of Commerce & Industry (FPCCI) and Farhan Ashrafi, Convener FPCCI Yarn Standing Committee demanded this while addressing the 1st meeting of the FPCCI Standing Committee on Yarns.

They said that 2 percent customs duty on filament yarn, 2 percent additional customs duty reduction and abolition of 2.5 percent regulatory duty were announced in the budget speech, but unfortunately, all the recommendations of the Commerce Division were ignored, and without stakeholders’ consultation, anomalies committee’s recommendations were made part of the budget, which is unacceptable

Khurshid A Shaikh, Former Central Chairman, PYMA, said that the user industry of the yarn sector is facing big loss as the cotton production is very low. Fibre and yarn are two major sectors which can boost the textile sector of the country.

M Usman, Leader, PYMA, said, nylon yarn and viscose yarn are major issues. He urged the government to resolve the issue of tariff over yarn and fibre.

Hafeez Aziz, Chief, PCLC said, yarn traders are facing a lot of problems at different stages and they don’t get refunds for many years. In exports, yarn traders play a major role but they suffer much. The Federal Board of Revenue (FBR) always keeps yarn traders in darkness and always demands tax more than income from traders, he alleged.

Junaid-ur-Rehman, Member Managing Committee, KCCI, said, the council should also discuss issues of cotton yarn and government policy for raw material of cotton must be pro-business and industry.