Cotton yarn exports monthly target lowered to 35k tonnes
ISLAMABAD: Federal Textile Ministry downgraded the monthly export target of cotton yarn from 50,000 to 35,000 kilograms, Geo News reported Sunday.
Talking to Geo News, Federal Textile Minister Rana Muhammed Farooq said the Custom would be responsible for the monitoring of yarn exports, adding the new exports target of cotton yarn would be applicable from March 1st until June.
He added however, there would be no limit for the value-added cotton yarn priced $3.5/kg or above.
Facilitating the spinning sector, Rana said the tax rate has been dwindled from 35 to 10 percent for the local sale of yarn garments.
According to Rana Farooq, the export re-financing facility would be provided for on time import of and availability of cotton in the country.