The All Pakistan Textile Mills Association (APTMA) has vigorously opposed the imposition of a Regulatory Duty on cotton yarn exports. According to the group, it would not only skew the momentum built up in exports over decades, but it would also jeopardise the continuation of government policies promoting export-led growth.
A certain group with vested interests are busy making unnecessary hue and cry for levying RD on the export of cotton yarn on false pretexts. Textiles have achieved historic high exports of 15.4 billion dollars. Commerce Ministry has claimed that Pakistan exported cotton yarn, worth $ 1 billion in FY 2020-21. APTMA is of the view that cotton yarn exports have decreased by 25% in quantitative terms and 26% in value terms. The textile exports have increased by 23% in FY21 while registering 29% growth in the first two months of the current fiscal year.
Domestic production of cotton yarn is about 3.5 million tons and local consumption is 90% for value-added products while only 10% is being exported. There is an urgent need to ensure the supply of basic raw materials (cotton and MMF) at competitive rates.
The Chairman of APTMA Abdul Rahim Nasir has said that a certain group with vested interests are busy making unnecessary hue and cry for levying RD on the export of cotton yarn on false pretexts. Textiles have achieved historic high exports of 15.4 billion dollars. In a scenario, when cotton is short by 6 million bales and polyester by 200,000 tons, these raw materials need to be imported to keep the mills operating normally.
