If Pakistan government slaps additional duty on import of cotton yarn from India, the country’s export of value-added textile will dive down from existing $11.49 billion, points out Muhammad Jawed Bilwani, Chairman, Pakistan Apparel Forum. He feels the government by supporting spinning textile sector was creating more financial miseries for value-added textile manufacturers and exporters. There is already a 5 per cent import duty on import of cotton yarn which the industry wants the government should withdraw to facilitate apparel textile export to the world.
The proposal of imposing additional duty will greatly hamper the cost of doing business of the vital value-added textile sector whose exports earnings are $11.49 billion more than spinners, he stressed. Bilwani further said that the value-added textile sector will be unable to import cotton yarn from India owing to the 5 percent import duty and the proposal of additional import duty, will greatly increase cost of doing business and make it tough for them to face global competition.