LAHORE (March 14 2003) : All Pakistan Textile Mills Association (Aptma) has demanded of the government to immediately announce revised rates of duty drawback on polyester-based products so that the impact of high prices of polyester staple fibre (PSF) could be compensated.
While talking to Business Recorder, Anjum M. Saleem, Chairman Aptma, said that recent increase in polyester staple fibre prices have increased the difficulties of the textile exporters.
He was of the view that if PSF prices keep on rising, it will be difficult for the Pakistani exporters of textile products to compete in the international markets.
This situation can reverse the trend of increase in textile exports, he feared.
He averred that cotton prices are already high in the market, and increase in PSF prices will create problems for the textile industrialists, as it will not be possible for them to fulfil export orders.
Anjum has also written a letter to the Federal Minister for Commerce Humayun Akhtar Khan, stating therein that in the absence of rationalised duty drawbacks structure, the industry will not be able to export its polyester based products in the international markets.
The delay in the revision of duty drawbacks can further affect our exports and the export targets set by the Government of Pakistan.
A delegation of Aptma led by its Central Chairman has also submitted its proposals to authorities concerned regarding the proposed rates of duty drawbacks.
According to information made available to Business Recorder, the federal ministry of commerce has agreed in principle to accept the demand of the Aptma regarding revision in duty drawback rates.