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Pakistan PM’s pledge to remove all cotton yarn import duties hailed

The Pakistan Readymade Garments Manufacturers and Exporters Association (PRGMEA) on Tuesday said the promised abolition of all duties on the import of cotton yarn would overwhelmingly enhance value-addition, leading to enhanced exports and reduced the trade deficit.

Ijaz Khokhar, Chief Coordinator PRGMEA, in a statement said, “The PM Shahid Khaqan Abbasi, in a recent meeting with PRGMEA, has assured us to pass directives to the textile division of the Commerce Ministry to move a summary to the Economic Coordination Committee (ECC) for removal of all duties and taxes on cotton fibber import.”

“We hope the PM will fulfil his promise of addressing all issues of apparel sector on a priority basis and a decision to this effect will be implemented at the earliest to provide level-playing to the value-added textile sector.

“The PRGMEA had requested the PM during his visit to the Sialkot Chamber of Commerce and Industry to do way with all the duties on cotton yarn import to help cut cost of doing business and bridge the gap between production and consumption.

“During the meeting the PM was also urged to restore the role of industrial associations in disbursement of duty drawbacks under the revised PM’s exports incentive package to ensure transparency,” he added.