Treasure Magazine

Treasure Magazine

PYMA urged govt to allow duty-free yarn import from India

2 min read
Cotton
Cotton shortage, high yarn price, textile production hampered

KARACHI: Hanif Lakhany, Senior Vice Chairman Pakistan Yarn Merchants Association(PYMA) and Vice Chairman Farhan Ashrafi, has expressed deep concern over the unavailability of cotton yarn and the price reaching an all-time high.

The both business leaders asked the government to immediately allow duty-free import of yarn & cotton from other countries, including India to save the textile industry from collapse and the export orders can be fulfilled in time.

Otherwise, he warned, the old orders will be canceled and Pakistan’s reputation in the world will be badly affected and foreign buyers will not give new export orders to Pakistan.

In a statement, PYMA office bearers said that due to the effects of the COVID-19 pandemic, a large number of export orders from China, Bangladesh and India were transferred to Pakistani exporters, which led to an increase in production activities.

However, these days the cost has risen sharply due to non-availability of raw materials as per the demand of the textile industry and the high price of yarn in the local markets.

“If we do not manage to import raw materials from other countries, including India, while looking for alternatives, then the export orders that have been transferred to Pakistan will not be fulfilled”, they pointed out, this will tarnish Pakistan’s image in the world and we will not get new orders.

Hanif Lakhany and Farhan Ashrafi demanded immediate lifting of duties on yarns & cotton from the government and allow duty free import from other countries including India, as import from India, freight charges come down and it takes less time. Hence, the government should allow the import of yarn from India for continuing textile production without hampering and fulfillment of export orders, so that Pakistani exporters can be saved from Indian financial losses.