Pakistan Textile Ministry May Extend 15% Cotton Yarn Export Adjustment Tax For 2 Months

Pakistan Business Record reported on July 4, Well-informed people According to the statement, the Ministry of Textile Industry of Pakistan plans to extend the policy of levying 15% regulatory tax on cotton yarn exports, which was originally scheduled to expire on July 26, 2010, for two months to September 27, so as to facilitate the domestic high value-added textile sector to smoothly obtain production raw materials against the background of rising global cotton and cotton yarn prices.

People in Pakistan's spinning industry are deeply worried about this, saying that the delay of the above policy may lead the spinning industry to the road of no return. The textile industry believes that the global cotton and cotton yarn prices will remain high in the international market in the next quarter due to the impact of this year's snow disaster on China's cotton production. It is suggested that policy makers and textile related departments and people develop a joint strategy as soon as possible to avoid the continued cotton yarn crisis. Analysts believe that the most effective way is for the government to give Financial support To offset the impact of high cotton yarn prices at home and abroad. (Ministry of Commerce)