The move made by the Federal Board of Revenue (FBR), Government of Pakistan, of imposing an import duty on yarn has been deeply discouraged by the Pakistan Hosiery Manufacturers and Exporters Association (PHMA) as it would work against the value-added textile sector, according to them.
As Pakistan’s value-added textile and the apparel export sectors are facing competition from countries like Bangladesh, Vietnam, and Cambodia, a move like this could lead to further decline in export earnings and can create unemployment as well, believes Usman Jawaad, PHMA Chairman.
Pakistan Readymade Garment Manufacturers and Exporters Association (PRGMEA), Pakistan Apparel Forum and several other business associations are in support of PHMA and express resentment on the proposed policy.
