2003-4-24 8:40:00
The Pakistan Yarn Merchants Association (PYMA) has demanded zero-percent customs duty on imported yarns.
The association contended that since the issue of protection to the local industry is involved, the customs duty on yarns not produced locally (Viscose, Acetate, Cupr-ammonium and Spandex Yarn) should be zero percent as because of high unit prices, these items are smuggling prone.
Zero duty will help reduce the incidence of smuggling and encourage the legitimate trade and industry.
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