Commerce Minister Jam Kamal leads discussions on polyester filament yarn duty

The Tariff Policy Board, under the leadership of Commerce Minister Jam Kamal, has engaged in multiple discussions concerning the potential elimination of the 5% regulatory duty on the import of polyester filament yarn. This proposal has been a focal point for the Pakistan Yarn Merchants Association (PYMA), which has consistently advocated for the removal of this duty. However, conflicting business interests have complicated the government's decision-making process.

The ongoing deliberations within the Tariff Policy Board highlight the significance of the 5% regulatory duty on imported polyester filament yarn. This duty, which adds to the cost of importing such yarn, has been a point of contention for the PYMA. The association argues that eliminating this duty would not only reduce costs for yarn merchants but also potentially stimulate growth in the textile industry.

Despite the PYMA's persistent efforts, conflicting business interests have emerged as a major obstacle in the decision-making process. Various stakeholders within the industry have differing opinions on the potential removal of the duty, leading to a complex and nuanced debate within the Tariff Policy Board.

As discussions continue within the Tariff Policy Board, the decision regarding the elimination of the 5% regulatory duty on polyester filament yarn imports remains pending. The outcome of these deliberations will have significant implications for both yarn merchants and the broader textile sector in Pakistan. Stay tuned for further updates on this crucial policy issue.