Aptma welcomes govt decision

KARACHI: All Pakistan Textile Mills Association (Aptma) Chairman Tariq Saud, while welcoming the government decision to impose 10 percent regulatory duty on import of yarn from India has expressed the hope that the government would also give them level-playing field by withdrawing Gas Infrastructure Development Cess (GIDC) and power surcharge, a statement said on Wednesday. Addressing a press conference along with the Aptma Managing Committee members, Saud said that the association is not just spinning sector, but it represented the entire textile sector and several value-added sector members are part of them. He claimed that of the total textile exports, 80 percent was contributed by the Aptma members, where spinning sector had a share of $2 billion in $10 billion exports of Aptma.

Saud charged that India had imposed 28 percent duty on Pakistani products and is dumping its yarn and fabric in Pakistan. He vowed not to give India further access to Pakistani markets and said India is on economic war with Pakistan. “We will not allow Indian goods in our markets at any cost,” he said. The Aptma chairman said that those people who are criticising Aptma could take benefit from the Duty and Tax Remission Scheme (DTRE) and import yarn on zero duty. He said the Aptma members are value-adding exporters, while others, who are not importing yarn for exports, are converters. The finance minister has assured them to take notice of GIDC and power surcharge, he said, adding that if they were given level-playing field, the country’s textile exports could increase to $25 billion from $13 billion.

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