Pakistan Prohibits The Hoarding Of Cotton And Cotton Yarn
Pakistan is the world's leading city.
cotton
In order to ensure the supply of goods in the domestic market, Pakistan has decided to prohibit textile factories from hoarding cotton and cotton yarns.
The national cabinet textile Commission has imposed a 15% conciliation tax on yarn exports. By July 12, 2010, it was designed to help the downstream textile industry develop.
However, this decision was widely criticized by all circles. They said that the decision to prohibit hoarding would harm these important economic sectors.
The Pakistan Textile Mills Association (APTMA) and the Pakistan yarn Merchants Association (PYMA) said in a joint statement:
Spin
and
Spinning mill
They will probably lose 30 billion rupees a month, because they exchange raw materials among members to support value-added industries. "
It is very important for textile and spinning enterprises to hoard raw cotton and yarn to ensure product quality and timely delivery of export and domestic orders.
The statement said: "we must reserve raw materials, such as cotton, in order to save time and money."
The textile sector in Pakistan has imposed a 15% export tax on cotton yarn, causing the textile department to withdraw its export orders of billions of rupees.
The statement said cotton yarn exports accounted for about 75% of the total textile sector before limiting the export of cotton yarn.
About 300 export of yarn and clothing containers to the United States, Europe, Far East countries, China, Vietnam and Hongkong are being held at ports because of the export control tax.
The statement said that about 600 containers of textile and yarn factories were also detained by the port, thus bundling billions of rupees.
India, Bangladesh and China are Pakistan's closest competitors.
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