According to Pakistan’s “Business Record” report, the All Pakistan Spinners Association (APTMA) recently called on the government to keep its promise and stop collecting the 15% cotton yarn export regulatory tax from July 26.
APTMA Chairman Shahzad said that artificial interference in the supply and demand relationship of cotton yarn has distorted domestic market prices and greatly increased uncertainty. A large number of spinning mills have closed down under multiple pressures. Spinning companies in countries such as Vietnam and India have taken the opportunity to seize the opportunity. international market share.
According to other reports, Pakistan’s Textile Minister Farooq recently convened a meeting with relevant parties to study whether to suspend the cotton yarn export adjustment tax and other matters. The parties have yet to reach an agreement, but a final decision will be made at the next meeting before the end of this week.
