Stakeholders of the textile sector have asked the government to announce an immediate ban on the export of cotton yarn or fix export quota to limit its shipments in the face of the commodity’s shortage in the domestic market.
In a statement on Monday, Pakistan Hosiery Manufacturers and Exporters Association (PHMA) Central Chairman Shahzad Azam Khan called on the government to eliminate all types of duties and taxes on the import of industrial raw material, which was not manufactured in the country.
“If the government is unable to slap a complete ban on the export of yarn to control its shortage, it can restrict exports by fixing a quota similar to the one announced in 2010 under SRO 119(I),” he suggested.
“The textile industry will be forced to shut several units if the government fails to resolve its issues on a priority basis and millions of workers will be rendered jobless in such an event.”
Appreciating the government for clearing tax refunds of billions of rupees, he requested it to ensure the availability of raw material at reasonable rates to improve exports and avoid the imposition of taxes through the mini-budget.
He pointed out that value-added textile exports had recorded a phenomenal growth last year due to the incentives given by the government.
Published in The Express Tribune, January 18th, 2022.
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