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The import of B-quality yarn would reduce the production cost of cloth exporters by 15 percent making them competitive in the world market ahead of the World Trade Organisation (WTO) free competition era.
Pakistan Yarn Merchants Association (PYMA) Chairman Khurshid Sheikh, in a fax, urged the commerce ministry to allow import of B-quality yarn to reduce cost of production and create employment opportunities in textile industry.
He said the yarn merchants were ready to pay full customs duty rate charged on import of A-quality yarn.
Substantiating his point, Khurshid said the textile industry in the country lacks high speed weaving and knitting machines, which require high quality yarn.
He said the stock lots and job lots yarn would be available at much lower import prices (30 percent less than the price of quality yarn), and thus the country would save substantial amount of foreign exchange.
It was also submitted that with the permission to import stock lot yarn some good quality yarn produced, as overrun production would also be available in the lot, which would reduce the cost of raw material for the fabric exporters.
The PYMA chief said another advantage of the import would be employment of unskilled workers, who were required to weave cloth with the help of imported yarn on slow speed machines now make most of the textile industry, adding the cloth would not only be available for export, but would be sold in the local market to provide low cost clothing to the common people.
He said there was no guarantee of the yarn quality produced by the local manufacturers as the delivery order clearly mentions that no claim would be accepted.
The PYMA chief has also urged the Central Board of Revenue (CBR) to allow exemption from payment of three percent additional sales tax on filament yarn to the unregistered persons, adding the CBR had already agreed to extend such exemption on the sale of spun yarn.

Copyright Business Recorder, 2004

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