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KARACHI: Saqib Naseem was elected unopposed central chairman of Pakistan Yarn Merchants Association (PYMA) while Javed Asghar elected senior vice chairman for the year 2021-22.

According to PYMA announcement, Muhammad Junaid Teli was elected as vice chairman for Sindh and Balochistan region and Awais Nisar, vice chairman for Punjab and KPK region.

The other members of executive committee from Sindh and Balochistan region Jawed Khanani, Asif Ammanullah, Behroze Kapadia, Rizwan Almas, Shoaib Sharif were elected. Similarly, from Punjab and KPK region Khalil Qaisar, Muhammad Noman Afzal, Muhammad Ramzan, Bilal Aslam, Muhammad Ahmed, Sohail Ahmed and Muhammad Umair Mazhar were also elected the members of executive committee. The Annual General Meeting (AGM) of PYMA also approved the annual accounts, while all the members paid homage to the services of the outgoing senior vice chairman Hanif Lakhani and the outgoing vice chairman Farhan Ashrafi.

Speaking at the AGM, Hanif Lakhani and Farhan Ashrafi congratulated the newly elected officials and assured them of their fullest cooperation and hoped that the newly elected officials would play their full role in resolving the problems of Yarn traders.

"In the budget, the reduction in the duty structure of yarn was not only our success but it was made possible by the cooperation of all the members who encouraged us at all times", they said, adding that we approached at the federal level, especially with the Ministry of Commerce, the FBR and the federal ministers, to reduce the duties and taxes on yarn.

Copyright Business Recorder, 2021

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