“In
order to save the value-added textile sector the government would
review quota of 35,000 tons on yarn export,” said Mirza Ikhtiar Baig,
federal advisor, ministry of textile at the conference organized by the
Pakistan Denim Manufacturers and Exporters Association at a local hotel
on Monday said…The conference observed that the cotton price in
the international market has increased by 22 percent whereas in
Pakistan it increased by 70 percent due to short supply. Yarn prices in
Pakistan increased by around 75 percent…Baig said he has suggested duty free import of polyester yarn in line with duty free import of cotton yarn for the exports…The textile sector should not be made to pay the cross subsidy for fertilizer sector, he said…Six major European countries were willing to give duty free market access and preferential tariff rates to Pakistan. ”
Date:4/20/2010
Source:www.chinaknowledge.com