PSYMA seeks withdrawal of duty on polyester yarn

26/05/2010 12:00 - 454 Views

With a view to amplify the supply of man-made yarn, a 16-member delegation of Pakistan Silk Yarn Merchants Association (PSYMA), discussed withdrawal of anti-dumping and customs duty on polyester yarn with the Federal Adviser on Textiles, Dr Mirza Ikhtiar Baig, in a meeting at his office.

Two to three domestic companies in Pakistan, which are the only polyester yarn producing firms in the country, have managed to impose 3 to 21 percent anti-dumping and custom duty on polyester yarn imports, particularly from Thailand and Korea, to enjoy monopoly in this sector.

Such duty imposition has taken a toll on the utilization of polyester yarn in the value-added textile sector and has caused heavy dependency on cotton yarn. The current yarn crisis is a result of restriction on the imports of polyester yarn for value-added sector, condemned the members of the association.

Fibre2Fashion News Desk – India

May 24, 2010 (Pakistan)

Source: www.fibre2fashion.com