The Pakistan Hosiery Manufacturers Association (PHMA) has demanded duty-free import of yarn from India. PHMA feels this move will circumvent cartelisation by the local spinning industry. It says imposition of import duty on raw materials such as yarn will negatively impact the apparel export sector. The tax will enable local yarn manufacturers to maintain higher prices to restrict competition, an onslaught exporters will not be able to withstand.
To face competition from countries like India and Bangladesh, hosiery manufacturers’ association wants the government to ensure regular gas and electricity supply to the industry. It adds this is essential to harvest the benefits of GSP Plus scheme and the value-added apparel sector needs a small quantity of gas and power as compared to other industries.
Established in 1960 the Pakistan Hosiery Manufacturers Association is a premier trade organization representing the hosiery and knitwear industry. Its object is to promote, develop, protect, stimulate and encourage the hosiery, knitwear and all made-ups, fabrics, home textile products of cotton, wool, silk or manmade fibers and to raise the standard of their production and enhance exports.