Pakistan'S Spinning Industry Will Incur An Additional 750 Million Rupee Tariff.

2010/7/23 9:48:00 50

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Industry experts say, because the government decided to

Psf

(PSF) import tariffs increased from 4.5% to 6%. Therefore, Pakistan's textile industry will have to bear more than 750 million rupiah tax burden.

A recent meeting of the cabinet Coordination Committee (ECC) made a decision to increase import tariffs.

A polyester Mill said entrepreneurs in the spinning industry would have to pay an extra 500 million rupee tariffs as the tariff increased by 1%.

Although the government only increased 855000 rupees by raising the 1.54% tariff, the spinning enterprises

enterprise

The family will have to increase the extra expenditure of 750 million rupees because domestic producers will raise their prices because of higher import tariffs.

An industry expert said, in short, they are paying 3 billion rupees for domestic polyester manufacturers.

The total amount of polyester fiber used in Pakistan is about 450 thousand tons per year.

In 2008-09, the volume of use was 430 thousand tons, of which 335 thousand tons were produced by 4 domestic textile factories, and their production capacity remained at 91%.

The biggest in the world and Pakistan

Polyester

After the closure of the production enterprises, the remaining four enterprises (Ibrahim fiber, Rupali, ICI and Pakistan chemical fiber Pakistan Synthetics) produced 350 thousand tons in the 2009-10 fiscal year, and imported 75000 tons in the same year.

After raising import tariffs, the government's revenue is negligible, but the cost of the four domestic companies' pockets will be much higher than expected.