Pakistan Modifies Export Tariff Policy On Cotton Yarn

According to the Pakistan business record June 7th, Pakistan textile Ministry issued a notice in June 4th to adjust the tariff policy of cotton yarn again, stipulate that orders for foreign sellers who opened letters of credit and less than 32 thousand tons before the May 12th date, and the high added value cotton yarn orders with a price exceeding 3.5 dollars per kilogram after May 13th, and the export quantity within 2000 tons per month will be exempted from 15% of export duty. In addition, the implementation of the original re export trade policy before May 12th is still carried out according to the original policy.

The report also said that the policy was introduced under the direct intervention of the new financial Abdul Hafiz Sheikh, and the conditions for its implementation need to be strictly examined by the representatives of the Ministry of textiles and the importers and exporters.