According to Pakistan’s “News” report, the Pakistan Cabinet Textile Committee held a meeting a few days ago and decided to immediately cancel the 5% import tariff on cotton yarn to expand the import volume of cotton yarn and meet the demand for yarn from domestic high value-added textile enterprises.
Pakistan introduced the above policy when high value-added textile enterprises continued to request the government to restrict the export of domestic cotton yarn and spinning enterprises strongly opposed it, thereby providing a fair production and competitive environment for all enterprises in the textile system to meet the needs of all enterprises in the textile system. requirements of various interested parties.
However, Pakistani officials said that the government will continue to pay close attention to the export situation of cotton yarn. If the monthly export volume exceeds 50,000 tons, further corresponding adjustment measures may be taken.
Currently, the Pakistani government stipulates that cotton yarn export contracts must have letter of credit or advance payment terms and be filed with the National Trade and Development Agency before customs clearance and shipment.
