AIRLINK 200.90 Decreased By ▼ -4.91 (-2.39%)
BOP 10.15 Decreased By ▼ -0.09 (-0.88%)
CNERGY 6.88 Decreased By ▼ -0.18 (-2.55%)
FCCL 34.09 Decreased By ▼ -0.57 (-1.64%)
FFL 16.98 Decreased By ▼ -0.12 (-0.7%)
FLYNG 24.04 Decreased By ▼ -0.64 (-2.59%)
HUBC 131.70 Increased By ▲ 0.52 (0.4%)
HUMNL 13.76 Decreased By ▼ -0.22 (-1.57%)
KEL 4.81 Decreased By ▼ -0.10 (-2.04%)
KOSM 6.70 Decreased By ▼ -0.11 (-1.62%)
MLCF 43.33 Decreased By ▼ -1.01 (-2.28%)
OGDC 218.75 Decreased By ▼ -3.02 (-1.36%)
PACE 6.98 Decreased By ▼ -0.24 (-3.32%)
PAEL 41.54 Decreased By ▼ -1.15 (-2.69%)
PIAHCLA 17.07 Decreased By ▼ -0.06 (-0.35%)
PIBTL 8.65 Increased By ▲ 0.23 (2.73%)
POWER 9.11 Increased By ▲ 0.02 (0.22%)
PPL 187.12 Decreased By ▼ -3.74 (-1.96%)
PRL 42.06 Decreased By ▼ -1.43 (-3.29%)
PTC 24.99 Increased By ▲ 0.20 (0.81%)
SEARL 100.30 Decreased By ▼ -2.36 (-2.3%)
SILK 1.01 Decreased By ▼ -0.01 (-0.98%)
SSGC 42.33 Decreased By ▼ -0.41 (-0.96%)
SYM 17.98 Decreased By ▼ -0.42 (-2.28%)
TELE 9.11 Decreased By ▼ -0.15 (-1.62%)
TPLP 12.93 Decreased By ▼ -0.22 (-1.67%)
TRG 68.35 Decreased By ▼ -0.43 (-0.63%)
WAVESAPP 10.29 Decreased By ▼ -0.13 (-1.25%)
WTL 1.86 Increased By ▲ 0.06 (3.33%)
YOUW 4.13 Increased By ▲ 0.13 (3.25%)
BR100 11,949 Decreased By -85.4 (-0.71%)
BR30 36,367 Decreased By -410 (-1.11%)
KSE100 113,837 Decreased By -659 (-0.58%)
KSE30 35,762 Decreased By -241 (-0.67%)

Chairman All Pakistan Textile Mills Association (Aptma) Gohar Ejaz has urged President Asif Ali Zardari and Prime Minister Yousuf Raza Gilani to seek exemption from safeguard duty on Pakistan cotton fabrics under the safeguard measures adopted by the Turkish government.
Turkey has imposed safeguard duty on import of cotton fabric, including denim, grey and processed fabric, from Pakistan, a measure likely to hit adversely $240 million exports from Pakistan. According to him, Pakistan's overall textile export to Turkey is around $350 million with major chunk of cotton fabric, ie 70% of total exports, and the proposed 30 percent safeguard duty would continue for next three years once it is levied by the Turkish government after safeguard investigations.
Ejaz said any such restriction on Pakistan exports to Turkey is a negation to the vision presented by the Turkey and Pakistan leadership during the visit of Turkish President Abdullah Gul, vowing to elevate bilateral trade to the tune of $5 billion by 2015.
The chairman Aptma pointed out that Pakistan is already passing through a crisis like situation due to devastating floods in the country and the terrorism related cost resulting in a stagnation of exports as against the potential of the textile industry.
He feared that imposition of safeguard duty on Pakistan cotton fabric by Turkey would add to troubles of Pakistan textile industry. It may be added that the fabrics produced by Pakistan and exported to Turkey for use in garments exported to Europe is hardly manufactured locally by the Turkish weaving industry. Therefore, he stressed that export of Pakistan cotton fabric is not likely to cause any injury to the Turkish domestic industry.

Copyright Business Recorder, 2011

Comments

Comments are closed.