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Textile Ministry to follow free textile trade regime: Rana M. Farooq.

ISLAMABAD, October 26, 2010 (Balochistan Times): Federal Minister for Textile Ministry, Rana M.Farooq Saeed Khan, said on Tuesday that his ministry fully supported the free textile trade as assured by President Asif Ali Zardari to an ATMA delegation few days back. He stated this while chairing a meeting of heads and representatives from various textile associations to assess the shortage and incessant rise in prices of polyester fiber (a key raw material) in the domestic market here today. The delegation from APTMA (All Pakistan Textile Mills Association) requested the Federal Minister that due to the increasing gap between demand and supply of polyester fiber in the local market, manufacturing sector should be facilitated to procure the said raw material from wherever they want to. For that, they requested that import duty on polyester fiber (currently, there is 6% duty on the import of polyester fiber) should be abolished at the earliest. Whereas representatives from polyester fiber sector opposed the APTMAs viewpoint. The Minister said We believe in the implementation of the free trade regime concept across the board . He further stated that efforts would be made to ensure uninterrupted and smooth supply of raw materials to all the concerned textile sectors in order to boost up the countrys exports. Together, we have to develop and modernize the textile sector in order to bring it at par with developed countries, minister told the participants. In order to bridge the differences between textile stakeholders, discussions would continue on the emerging challenges to textile sector in the coming days, said the minister.

(THROUGH ASIA PULSE)
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Publication:Balochistan Times (Baluchistan Province, Pakistan)
Geographic Code:9PAKI
Date:Oct 26, 2010
Words:263
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