No solution to yarn duty issue in sight – Nasir Jamal (Dawn):
LAHORE, May 27: In their separate meetings with the federal textile minister and the finance adviser in Islamabad on Thursday, the value-added textile producers renewed their demand for doubling the current 15 per cent regulatory duty on cotton yarn exports from Pakistan to control the commodity’s domestic prices.

They have also urged the government to continue to regulate yarn exports even beyond June till the exact size of the new cotton crop is estimated to protect the local ancillary textile industry. Source Read More

Ministry refuses to lift regulatory duty on yarn: stakeholders told to hold talks – Rizwan Bhatti (Business Recorder)
KARACHI (May 28 2010): The ministry of textile on Thursday plainly refused to lift 15 percent regulatory duty imposed on the export of cotton yarn, asking the stakeholders to settle their dispute through negotiations. Sources told Business Recorder that for last three days a spinners’ delegation was in Islamabad to negotiate with the ministry of finance and the ministry of textile withdrawal of 15 percent RD on yarn.

Spinners informed the ministries that export of cotton yarn has come to complete halt and hundreds of containers loaded with the commodity have been stuck at port after the imposition of the duty. They said presently the yarn production is higher than the local production and in case of RD, spinners will not import raw cotton for domestic consumption. They requested the textile ministry to withdraw 15 percent RD immediately.
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Pakistan cotton yarn makers ask government to end export levy – by Khurram Anis (Business Weekly)
May 26 (Bloomberg) — Cotton mills in Pakistan, the world’s biggest yarn producer, asked the government to end a levy on exports, which they say threatens the closure of hundreds of units because of lost sales.
A ministerial committee will discuss the proposal by mills to abolish the 15 percent regulatory duty in Islamabad tomorrow, said Yaseen Siddique, chairman of the southern region of the All Pakistan Textile Mills Association. The meeting comes after the trade group met Prime Minister Syed Yousuf Raza Gilani and Finance Adviser Abdul Hafeez Shaikh since last week. Read More

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