LAHORE, Jan 17 (Online): Pakistan Hosiery Manufacturers & Exporters Association (PHMA) central chairman Shahzad Azam Khan has asked the government to announce an immediate ban on cotton yarn export or at least fix a quota to limit its unabated exports, as the shortage of yarn continued to persist.<\/p>\n
In a press statement issued here on Monday, he also demanded the elimination of all types of duties and taxes on import of industry\u2019s raw material which is not being manufactured locally.<\/p>\n
\u201cThe government can restrict the yarn exports from the country by fixing a quota as was announced in 2010 under SRO 119(I) to control the shortage if it is unable to put a complete ban on exports,\u201d he suggested.<\/p>\n
He warned that the textile industry will be forced to close down if the government failed to resolve our issues on a top priority basis, besides, rendering millions of workers jobless.<\/p>\n
Shahzad Azam Khan appreciated the government for clearing hundreds of billions refunds of the last eleven years but insisted the government to also ensure availability of raw material at reasonable rates to further improve exports to avoid further taxes through mini-budget under the pressure of the IMF.<\/p>\n
He said the value-added textile exports recorded a phenomenal growth due to incentives of the government last year. He said the value-added knitwear industry had warned the government about the shortage of yarn coupled with price spiral as the government failed to allow import of yarn through Wagha border. <\/p>\n
Still this issue is irritating the value-added textile sector and expected to reverse positive trend of exports if immediate remedial measures were not taken, he said.<\/p>\n","protected":false},"excerpt":{"rendered":"
LAHORE, Jan 17 (Online): Pakistan Hosiery Manufacturers & Exporters Association (PHMA) central chairman Shahzad Azam Khan has asked the government to announce an immediate ban on cotton yarn export or at least fix a quota to limit its unabated exports, as the shortage of yarn […]<\/p>\n
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