Central Chairman Pakistan Hosiery Manufacturers and Exporters Association (PHMA) Dr Khurram A Khawaja recently said that Sialkot is the fourth largest economic centre of the country and the second city earning valuable foreign exchange for the country with highest ranged among per capital income.
Sialkot is also a biggest manufacturer of the world. While talking to the media he said that the Sialkot sportswear industry is 99% based on polyester made garments and now Government has recently imposed 5% regulatory duty on imports of polyester yarn and an average 7% anti-dumping duty.
The total duty and taxes including anti-dumping on polyester yarn regulatory duty, anti-dumping and other taxes account for 30% which makes our polyester based sportswear industry more expensive to compete with international market adding that sportswear industry of Sialkot is directly affected by these duties on the polyester yarn.
He said, major local manufacturers of polyester yarn manufacture only Draw Textures Yarn (DTY) which is textures (semi dull) and they don’t manufacture polyester Fully Drawn Yarn (FDY) but the anti-dumping duty is also imposed on the FDY which is not locally manufactured and as per the anti-dumping law it cannot be imposed on the product that is not locally manufactured.
Dr Khurram urged upon the government to take steps to abolish all the duties and taxes imposed on the polyester yarn, enabling the sportswear manufacturers and exporters to compete with the international market and to earn valuable foreign exchange which is badly required by our country. Expressing the hope he said that concerned authorities would consider on the demand to enable the industry to compete in international market easily.