January 10, 2019 (MLN): The Filament Manufacturing Group of the Textile Division has ensured an investment worth $125 million to upgrade its existing production capacity. This declaration was made at a meeting held by Adviser to the Prime Minister on Commerce, Textile, Industries & Production and Investment, Mr. Abdul Razak Dawood.
The Advisor held two separate meetings in Textile Division on improved utilization of manmade fiber and filament in the Textiles Value Chain. He said that, “Internationally cotton is now 30% of the total fiber consumption and manmade fiber and filament is now at 70%, meanwhile the situation domestically is quite opposite.”
At these meetings, the issues pertaining to the PTA-PSF-PFY were also discussed including, tariff, regulatory duties, anti-dumping duties, additional custom duties, smuggling and how to simplify the temporary importation schemes for the purpose of exports.
The recommendations from these associations were also discussed and it was decided working level meeting would be held to devise mechanism to simplify the importation schemes for SMEs.
The Advisor said that we would make raw material available for the industry and would also give a fair protection to the domestic industry to attract further investment.
The aforementioned meetings were attended by the Secretaries of Textile and Commerce Divisions, Chairman National Tariff Commission, the entire manmade chain starting from the producer to user across Pakistan, including Ibrahim Fiber, ICI Fiber, Rupali, Gatron, Lotte PTA plant, All Pakistan Textile Mills Association, All Pakistan Cotton Power loom Association, Pakistan Silk and Rayon Mills Association and Pakistan Yarn Merchant Association.
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