Pakistan Will Continue To Export 15% Of Cotton And Yarn Export Tax.
Pakistan
The textile department (MinTex) may extend 15% of the yarn export regulation tax (RD) for another two months, contrary to the decision announced in the end of July 26th.
According to the proposal, the Ministry of textile industry extended the adjustment tax time to September 27, 2010. For this purpose, the Ministry of textiles is drafting a document.
Originally, 15% of the adjustment tax ended in July 12th, but later extended to July 26, 2010.
The textile department has imposed a 15% regulatory tax to limit.
Yarn outlet
To encourage the development of value-added textile industry, during this period, cotton and cotton yarn prices all over the world were soaring.
Spinning industry
We are extremely disturbed by the development of the situation. They say that if we extend the adjustment tax again, we will nail the last coffin nail to the spinning industry.
According to the industry, the textile department, the president and the prime minister are seriously interfering with the industry. Because of political factors, they are concerned about this problem. Therefore, the export fate of Pakistan's excess yarn will deteriorate.
In addition, they say, the uncertainty of the textile industry at present distorts Pakistan's image as a reliable textile supplier country, and on the other hand, it is not conducive to attracting new investment in the textile industry.
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