PYMA concerned over huge import of cotton yarn from India
Pakistan Yarn Merchants Association (PYMA) has expressed grave concern over excessive import of cotton yarn from India and termed it a deep conspiracy to destroy the Pakistani yarn industry. These apprehensions were expressed by Central Chairman Qaisar Shamas Guccha, Zonal Chairman Muhammad Akram Pasha, and Zonal Vice-Chairman Adnan Zahid Butt while talking to media persons here on Saturday.
They said that Indian government is providing rupees 26.72 per kilogram incentives to its exporters. In view of these incentives the Indian cotton yarn became vary cheap for export to Pakistani market. Substantiating their arguments, they said that in year 2012, the total import of Indian cotton yarn was 6,500 tons which rose to 30,000 tons in 2013. While in the first six months of currant fiscal these have reached to 18,000 tons. It was feared that if this trend continued then India would later on dump its cheap cotton cloth in Pakistani market destroying the power looms industry, the yarn market and textile industry which was the back bone of Pakistan economy.
They further stated that fine quality yarn was available in the country and if the value-added industry wanted to import additional quantity they could import only fine cotton yarn with 15 percent regulatory duty. They warned that India had deceived Pakistan many times in the past by providing cheap products and then totally cutting of supplies after making Pakistan depended on it. This was done in case of electricity in 1950, they said.
The leaders of the Association drew attention that yarn making sector was not totally against import of fine yarn but would not favour its import at the cost of local industry. Therefore, the value-added industry could import fine cotton yarn after paying regulatory duty. They further demanded of the government to impose 15 percent regulatory duty on Indian cotton yarn import.