Pakistan restricts cotton yarn exports to no more than 10,000 tons per unit
According to comprehensive Pakistani media reports, Pakistan’s Finance Minister Tallinn recently chaired a meeting of the Federal Cabinet Textile Committee and passed a resolution to restrict cotton yarn exports, that is, in the second half of this fiscal year (January-June 2010), Pakistan’s monthly cotton yarn exports will not exceed 5 Thousands of tons. The meeting also rejected the spinning mill’s proposal to provide them with a 2% tax rebate.
In recent years, Pakistan’s cotton yarn exports have surged, causing the production costs of high value-added downstream industries such as garments to rise. Relevant business organizations have repeatedly protested against cotton yarn exports to the government and declared that they would launch an industry-wide strike. The above decision was made against this background.
According to statistics, Pakistan exported a total of 550,000 tons of cotton yarn in the last fiscal year. In the first half of this fiscal year (July-December 2009), cotton yarn exports have reached 368,000 tons.
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