LAHORE– All Pakistan Textile Mills Association has strongly opposed the move of imposing Regulatory Duty on the export of cotton yarn, it would not only distort the momentum gained in exports after decades but will disturb the continuity of governmental policies for export-led growth.
Mr. Abdul Rahim Nasir (Chairman APTMA) has said in a press statement that a certain group with vested interests are busy in making unnecessary hue and cry for levying RD on the export of cotton yarn on false pretexts with the intent to agitate the historic high trend of textile exports, roll back investment of more than $ 4 billion and to deprive the country of projected additional 500,000 jobs.
He emphasized that cotton yarn is sufficiently available in the country for consumption in the value-added sector for export purposes which is evident from the fact that cotton yarn export has declined in past years, resultantly textiles have achieved historic high exports of 15.4 billion dollars.
An article was published in business recorder on 24th September 2021, which is based upon misguided and contradictory figures. The facts are as follows;
- Cotton Yarn exports have decreased by 25% in quantitative terms from 0.522 million tons (FY19) to 0.390 million tons (FY21) and 26% in value terms.
- Exports of cotton yarn in FY21 have decreased by 5% in quantitative terms while value hasincreased by 3% as compared to FY20.
|Cotton Yarn Exports|
|Value||In Billion $||1.37||1.13||-18%||0.99||-12%||1.02||3%|
|Quantity||In Million Kgs||522||434||-17%||413||-5%||390||-5%|