Arguing that the duty should be allowed to expire next week as
originally planned, the All Pakistan Textile Mills Assn. (APTMA) wants
the forces of supply and demand to help the market reach its natural
equilibrium price point. The organization claims that a quota kept
cotton yarn exports to a two-month total of 35,000 tons, and as a
result, there should be no problem meeting domestic supply demands..
The value-added sector, on the other hand, wants the government to
extend the duty for an additional two months. In addition, sector
representatives point out that current cotton stocks are virtually
nonexistent, and that the duty should be extended to cotton exports, as
well..
The export duty has already been extended two times, from June 30 to July 13, and again until the current deadline of July 26.
Date:7/25/2010
Source:www.wtin.com