Pakistan's textile exporters association has asked PM Imran Khan-led government to import cotton yarn from India to ensure continuity in export growth as the country is facing a rise in unavailability of cotton yarn.Unavailability of cotton yarn and non-payment of Duty Drawback of Taxes and Income Tax refunds is adversely impacting the export growth putting millions of dollars export orders at stake, industry officials were quoted as saying by The News International.
“In order to overcome the scarcity of basic raw material, the government should allow cross-border import of cotton yarn from India to ensure continuity in export growth,” Muhammad Ahmad, Chairman Pakistan Textile Exporters Association (PTEA) was quoted as saying by the newspaper in a statement.
Khurram Mukhtar, Patron-in-Chief PTEA, in his statement, expressed concern over undue delay in disbursement of exporters’ Duty Drawback of Taxes and Income Tax refunds (over Rs50 million) as exporters’ liquidity had already taken a strong negative hit from COVID-19, reported The News International.
“The government must take immediate measures to ease off the financial stress and gear up the export growth,” he said.
Source: India Blooms