The Pakistan Hosiery Manufacturers and Exporters Association (PHMEA) is concerned about the increasing taxes on the import of polyester yarn, as rising taxes has negatively affected the sportswear industry of Sialkot.
The government had recently imposed a 5 per cent regulatory duty on polyester imports with an average 7 per cent anti-dumping duty. The total duties and taxes, including anti-dumping duty, account for 30 per cent that makes it difficult for the polyester-based sportswear industry to compete in the international market.
Anti-dumping duty is also imposed on the polyester fully drawn yarn that is not locally manufactured, which the PHMEA believe is against laws. The demanded that the government should abolish all duties and taxes imposed on the polyester yarn so that sportswear manufacturers and exporters can compete in the global market.