PYMA seeks uniform tax rates

KARACHI: Pakistan Yarn Merchants Association (PYMA) has demanded of the government to keep uniform rates of taxes for commercial importers and manufacturers, a statement said on Wednesday.

PYMA Central Chairman Khurshid A Shaikh, Zonal Chairman Aslam Moten and Vice Chairman Khalid Iqbal Gader urged the government to reduce the duty on polyester yarn, remove regulatory duty and immediate suspension of anti–dumping duties.

Shaikh also appealed the government to reduce duty and taxes on import of polyester filament yarn.

Moten, requesting to review anti–dumping duties imposed by the National Tariff Commission (NTC), said that the government has imposed unnecessary anti-dumping duties to provide benefit to local industries, the statement said.

The local industry is still unable to provide raw material as per the demand of the export industry, he said, adding that this situation propels import industries to depend on imported raw material, but due to excessive taxes and anti-dumping duties, the cost of industrial production has increased manifold.

He urged the government to suspend anti-dumping duty until and unless local industry achieves production capacity of raw material as per their demand.