Karachi, April 18, 2018 (PPI-OT): Pakistan Yarn Merchants Association Central Chairman, Khurshid A. Shaikh, Zonal Chairman Aslam Moten and Vice Chairman Khalid Iqbal Gader has demanded from Government to keep uniform rates of taxes for Commercial Importers and Manufacturers, Duty on Polyester Yarn to be reduced, while removal of Regulatory Duty and suspension of Anti – Dumping Duties immediately.
Central Chairman of PYMA , Khurshid A. Shaikh has appealed the Government to reduce duty and taxes on import of Polyester Filament Yarn, He insist to remove R.D. 5% in coming budget, while import duty should be abolished from 11% to 7%.
Mr. Aslam Moten, Zonal Chairman, While requesting to review Anti – Dumping Duties imposed by National Tariff Commission, said that Government has imposed un-necessary Anti-Dumping Duties to provide Benefit to local industries. Although the local industry is still unable to provide Raw Material as per demand of Export Industry. Due to this situation import Industries are bound to depend upon imported Raw Material but due to excessive Taxes and Anti-Dumping Duties on Raw Material, the cost of Industrial production has been highly increased. He has further appealed to Government to suspend Anti-Dumping Duty until and unless local industry achieve production capacity of Raw Material as per industrial demand. This will provide cheap Raw Material to Industrial Exports.
Vice Chairman of PYMA, Khalid Iqbal Gader has expressed that Yarn is a basic Raw Material of Industries and only used in Industries, whether Imported by commercial or Industrial Importers. He has appealed to Government that rate of withholding tax on imported yarn MUST be on uniform rate and provide Facilities to do business on Equal basis.
For more information, contact:
Secretary,
Pakistan Yarn Merchants Association (P.Y.M.A)
Business Centre, 8th Floor, Dunolly Road,
Karachi -74000, Pakistan
Tel: +92-21-32410320
Fax: +92-21-32424896
Email: pyma@cyber.net.pk