20000405

PCMA seeks duty

relief on import

of all synthetic

filament yarns

RECORDER REPORT

KARACHI: The Pakistan Cloth Merchants Association (PCMA) has urged the minister of finance to amend SRO (I)/2000 to provide custom duty relief on import of all synthetic filament yarns to both the manufacturers and commercial importers.

M. Iqbal Mangrani, Chairman PCMA (Sindh Baluchistan Zone) in a statement has also pointed toward another anomaly in the SRO which is presently centre of criticism from trade due to its discriminatory nature. He said that the notification provided relief in custom duty from 35 percent to 25 percent on the import of only polyester filament yarn which in fact should be for the import of all types of synthetic filament yarns.

He pointed out that the import of polyester filament yarn was negligible as it was manufactured locally whereas the other synthetic yarns such as nylon yarn, acetate filament yarn, viscose filament yarn used in value added fabrics were not manufactured in the country.

He urged the finance minister to direct the Central Board of Revenue to immediately withdraw the discriminatory SRO which was faulty on two counts. Firstly, it discriminated between the manufacturers and commercial imported who import 90 percent of polyester filament yarn and secondly it had restricted the relief to only polyester filament yarn excluding import of all other synthetic yarns.

Mangrani thanked Shaukat Aziz for giving a patient hearing to chairmen of three textile associations in Karachi on the problems created by the new notification issued by the CBR.