PYMA calls for withdrawal of regulatory duty on import of yarn

KARACHI: Central Chairman, Pakistan Yarn Merchants Association, Khurshid A. Shaikh and office bearers of the association have called for withdrawal of regulatory duty on import of yarn, which is a raw material for textile industry.

In their joint statement here on Monday, PYMA President, Zonal Chairman Muhammad Aslam Moten and Zonal Vice-Chairman Muhammad Khalid Gader expressed pleasure and satisfaction over appointment of Dr. Miftah Ismail as Advisor to the Prime Minister on Finance, Revenue and Economic Affairs.

They acknowledged that Dr. Miftah possessed in-depth understanding of the issues faced by trade and industry. He could take right decisions to promote trade and industry.

PYMA said that repeal of RD on yarn import would help textile industry grow, which is the backbone of the economy.

It has also been requested the new Advisor to the Prime Minister to bring all stakeholders on board for the review of economic and financial policies to prepare effective frame work to address the trade and industry's issues.