Xinhua/ISLAMABAD, April 15 — Pakistan’s Economic Coordination Committee (ECC) authorised the removal of customs duties on cotton yarn imports until June 30, 2021, to help the textile industry, according to the finance ministry.
According to a statement from the ministry, the move was made “to ensure smooth supply of cotton and cotton yarns to the value-added industry, while bridging the gap between domestic output and overall demand for the inputs.”
Abdul Razak Dawood, Pakistani Prime Minister’s advisor on trade, apparel, manufacturing, and development, and investment, said on Twitter shortly after the committee’s decision that the regulatory duty on cotton yarn imports had already been removed in December of last year.
“To support Value-Added exporters, the ECC has removed customs duties on cotton yarn imports. With the cabinet’s approval, this will be announced ” he added.