By admin       2016-07-20

Pakistan Apparel Forum (PAF) on Tuesday warned the government of a further decline in textile exports with a placement of 10 percent regularity duty on import of cotton yarn. In a letter to Prime Minister Nawaz Sharif, Chairman PAF, Muhammad Javed Bilwani said that the country's exports had declined to 12.11 percent in 2015-16 and feared that the imposition would further pulled down the nation's global trade share.He said that the country's cotton yield had scaled down by 35 percent with a chance of further fall in the key textile ingredient. "Now with the issue of Notification SRO 614 (1) 2016 dated 14th July, 2016 withdrawing the exemption of regulatory allowed on import of cotton yarn and imposition of 10% regularity duty would amount to stab in the back of further decline in the exports of our nation," the letter says.Bilwani said that there had been no such duty on import raw material globally. "It is pertinent to note that globally, there is no duty on import of Raw Material and duty always imposed on export of raw material," he added. He demanded of the government to revive the exemption of regulatory duty on import of cotton yarn. "We must earnestly request your good self to please kindly revive exemption of regulatory duty on import of cotton yarn which was issued vide Notification SRO 15 (1) 2010 dated 6th January, 2010," he said, adding that "kindly once again allow exemption of regulatory duty on import of cotton yearn to enable covert into value addition and consequences save and increase our exports

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