Pakistan Yarn Merchants Association (PYMA) has urged the government to enhancing regulatory duty to 1O percent and restricting of large scale of imports of yarn. Talking to newsmen, Qaisar Shamas Guccha, Central Chairman Pakistan Yarn Merchants Association (PYMA), M Akram Pasha. Chairman Punjab & KPK Zone & Adnan Zahid Butt, Zonal Vice Chairman have expressed serious concern over large scale imports of cotton yarn from India and said that the import of cotton yarn from India is negatively impacting the local textile industry, spinning sectors and yarn market.
Elaborating they said that Indian Government was conspiring to sabotage the Pakistani Textile Industry providing various incentives and concession to its Exporters to establish them in Pakistani Markets by displacing the local spinners through cheaper yarn glut.
The PYMA office bearers pointed out that Pakistani textile industry were confronted with serious energy crises, resultantly more than 40 percent textile mills were already closed partly or totally. They said exports of Textile were also declining as there was short fall of 22 percent in yarn exports and of 14 percent in cloth exports in September 2014. They added that to cap it the government was increasing the electricity cost by imposing 30 Paisas per unit equalisation surcharge on industry where by the per unit cost will rise from rupees 7.75 to rupees 12.50 per unit for industry, thus rendering the Pakistani textile more costly.-PR
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