Weaving Mills Issues Raised
KARACHI, Jan. 6 (UrduPoint / Pakistan Point News - 06th Jan, 2017 ) : Founding Member and Patron-in-Chief of Pakistan Weaving Mills Association, Asif Siddiq has expressed concern that weaving sector, especially indirect exporters who supply goods to the exporters, were faced with many problems in running their business.
He was of the view that the policies dealing with these exporters be revisited, said statement. The statemednt said that Asif expressed these views while addressing extra ordinary general meeting of PWMA held at SITE Area in presence of Irfan Moten, President PWMA, Yousuf Prince, Senior Vice President, Khalid Riaz, Vice President and other senior members of the association Abdul Jabbar Dalal, Hussain Moosani, Muhammad Hanif, Naveed Wahid, Faraz Pervez and Ahsan Arshad Ayub.
Asif Siddiq said the exporters have been allowed to import yarn at zero percent duty and no income tax and sales tax was levied whereas the indirect exporters have to pay 15 per cent custom duty and 1 per cent income tax, he mentioned.
Due to shortage of cotton in Pakistan and high input cost, the weaving industry was relying mostly on imported yarn from India, China, Indonesia and Turkey, he said. With this kind of policy, government had completely taken the indirect exporters out of the market.
All weavers were dependent of the exporters to get the yarn and run their machines only on overhead basis. The financially weak exporters who were relying on traders and indirect exporters to provide them fabric were going out of the business.
Pakistan Weaving Mills Association's leader urged the government to immediately ensure even playing field for the direct and indirect exporters and to consult all the stakeholders before making the policies related to this sector.