The All Pakistan Textile Mills Association spokesman has clarified that the Association has demanded immediate imposition of 15 percent Regulatory Duty on the import of synthetic yarns, particularly the Polyester Viscos Yarn, Polyester Cotton Yarn and Pure Polyester Yarn.
He said a press handout released by the Association a day earlier was misconstrued by a section of the press, which had put a caption on the news that the Association has sought imposition of 15 percent Regulatory Duty on the Man Made Fibers (MMF), which is a wrong perception. "The Association has sought imposition of 15 percent Regulatory Duty on the Man Made Fibers yarns," he added. He said the import of Man Made Fiber yarn has increased by four times in last four years and likely to reach 57000 tonnes per annum by the end of 2015-16.
He said a surge in import of MMF yarns has become a matter of serious concern for the domestic industry and posing a serious threat to the survival of about two million spindles with over three million direct and indirect workforce attached with this industry - both upstream and downstream. "An unchecked import of yarn has hit the viability of the domestic spinning yarn industry, which is also threatening the survival of domestic PSF producers and the PTA industry by and large," he said.
"Both the upstream and downstream industries as well as millions of direct and indirect jobs are under threat and need immediate intervention by the government," he added. He said the production, marketing and finances of the spinning mills have been exposed to risks and turning into unviable units despite the availability and affordability of energy these days.
"Spinning mills are unable to reap the benefit of the current improvement in the supplies of energy," he added. The spokesman for the Association has urged the government to act immediately and ensure the principle of 'first right of the domestic industry' on the domestic commerce by imposing 15 percent Regulatory Duty to stop the inroads of subsidised yarns into the domestic market. It is also worth mentioning that the imported synthetic yarns are available at the price of raw materials being made available to the local industry, he concluded.