The Pakistan Textile Mills Association (APTMA) has strongly rejected the introduction of regulation duty on cotton yarn exports. According to the association, this not only distorts the pace of exports decades later, but also disrupts the continuity of government policy on export-led growth.
Abdul Rahim Nasir (Director of APTMA), who is critical of Government’s idea of exporting cotton yarn, said that a certain special interest group is busy publishing unnecessary screams in order to force the RD on cotton yarn exports.
Historical, more than $ 4 billion in investment was taken away and an expected 500,000 new jobs were taken off from the country.
In his statement, he confirmed that the country has enough cotton yarn for local consumption and for export purposes, as evidenced by the decline in cotton yarn exports in recent years and the subsequent historic growth in textile exports which earned $ 15.4 billion export revenue.
The Commerce Ministry has said Pakistan exported $ 1 billion worth of cotton yarn in the 2020-2021 fiscal year.
However, according to APTMA, cotton yarn exports declined in volume by 25% from 0.522 million tonnes (fiscal 2019) to 0.390 million tonnes (fiscal 2021) and by 26%. Exports of cotton yarn decreased by 5% in physical terms in 2021 fiscal years and increased in value terms by 3% compared to fiscal 2020.
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