KARACHI: Pakistan Yarn Merchants Association (PYMA) has sought help of Trade Development Authority of Pakistan (TDAP) in abolishing regulatory duty on polyester yarn.
TDAP chief executive Zubair Motiwala, while taking keen interest in solving the problems faced by the textile industry, which was the backbone of the country’s economy, meeting with the delegation of PYMA and assured them for all possible support.
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He said that timely supply of raw materials to the industries was very important for the promotion of exports, so he will continue to raise his voice to create facilities for the industries so that the country’s exports get a boost.
On this occasion, DG TDAP Basit Rauf, leader of the PYMA delegation Senior Vice Chairman PYMA, Sohail Nisar, Vice Chairman Javed Khanani, former chairman Muhammad Usman, Saqib Goodluck, Aslam Moten, Saqib Naseem, Hanif Lakhany, Farhan Ashrafi and Rizwan Deewan were also present. The delegation congratulated to Zubair Motiwala on appointment as Chief Executive, Trade Development Authority of Pakistan (TDAP).
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Sohail Nisar told the CEO TDAP that production activities were severely hampered due to non-availability of basic raw material polyester yarn to the textile industry as banks are not opening LCs. Whereas, due to non-clearance of consignment, industries, especially SMEs, were facing a severe crisis of raw materials.
“A large number of containers loaded with imported polyester yarn were stuck at the ports and due to non-clearance of these containers, importers are facing huge financial losses due to heavy demurrage and detention.”
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Therefore, for timely supply of raw materials to the textile industry, polyester yarn containers should be cleared immediately and demurrage, detention should be waived.
The PYMA delegation also requested Zubair Motiwala to play an effective role in removing the Regulatory Duty (RD) and Anti-Dumping Duty imposed on Polyester Yarn which was unfair. The production activities of the textile industry, especially the small and medium enterprises (SMEs), were being adversely affected.
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“It should be noted that 5 to 8 lakh workers are employed in this sector, so the government should issue orders to clear the consignment of polyester yarn as soon as possible to continue the production activities of the textile industry, while RD and anti-dumping duty on polyester yarn should also be abolished so as to reduce production cost of textile industry and boost exports.”
