A 15% regulatory duty has been imposed on cotton yarn exports for the next 60 days. The decision was taken on 12 May during the Cabinet Committee Textile meetingchaired by Finance Advisor Dr Abdul Hafeez Sheikh. This duty was imposed to ensure the availability of yarn for the value-added textile sector which has been facing an acute shortage of this raw material.
“The apparel, linen and other sectors were drying up due to non-availability of yarn and serious reports have been received from key textile centres of the country,” explained Textile Minister Rana Farooq Ahmed.
