Pakistan May Conditionally Allow Yarn Exports.

Pakistan textile department may have conditional permission. Cotton yarn export The minimum price barrier is US $3.5 / kg.

After two days of negotiations with the value-added textile department and spinning unit, the Ministry of textiles has not announced any absolutes, but it is reported that the Ministry of textiles may allow yarn export under certain significant conditions. The notice in this regard is expected to take effect within two days.

　　 Spinning mill And added value Spin The consultations between the Departmental Committee and the Ministry of textiles were reported on Sunday and Monday in Karachi. Textile minister Rana Faruqi hosted the consultations, and vice minister of textile, Vachel. Stakeholders held talks for two days, and after hearing the views of both sides, Rana Faruqi prepared his ruling.

During the consultations, the spinning mills asked the Ministry of textiles to allow export of cotton yarn, with a price limit of $3.5 / kg, no quota restrictions, and no 15% restricted regulatory tax. However, the spinning mills agreed to export other cotton yarns under 15% of the regulated tax, and the price of these yarns will be lower than the price determined.

It is learnt that the Ministry of textiles has agreed in principle to the spinning mill's proposal that it may allow export of cotton yarn at a determined price. In addition, the spinning factory also suggested that under the circumstances of importing raw cotton according to the DTRE plan or in the form of cotton yarn transshipment, 15% of the adjustment tax would not be paid, and only 15% of the adjusted tax would be paid if additional value was added.

During the consultations, the spinning factory also asked for the protection of the letter of credit, and the letter of credit of about 35000 tons of cotton yarn had been established with foreign buyers. If the goods could not be issued with the quantity of orders signed, the reputation of the country would be damaged. The Ministry of textiles also promised partial relaxation to exporters in signing orders, and their letters of credit will also be issued.