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10 pc customs duties on import of Indian yarn demanded

10 pc customs duties on import of Indian yarn demanded

LAHORE: Pakistan Cotton Ginners Association (PCGA) Vice Chairman Asim Saeed Sheikh has expressed concerns over Indian yarn’s import and urged the government to impose 10 per cent duty on it to keep local yarn competitive.

He was talking to newsmen in Multan. He said that total import of Indian yarn last year was calculated at 1,149,903 kilogram, however, this year 4,220,893 kilogram of yarn had reached Pakistan up to the first week of March and all of it came from India.

Sheikh Asim said that India gives subsidy to its growers and on export of yarn and Pakistani growers and ginners would hardly be able to compete with Indian yarn due to the subsidy.

He requested the government to immediately impose 10 per cent customs duty so that Indian yarn was available at a price that is near the price of yarn produced at home.