KARACHI: Yarn merchants have urged the State Bank of Pakistan (SBP) to remove restrictions on opening of letters of credit (LCs) to rescue the textile industry. In a letter to SBP Governor Jameel Ahmed, Pakistan Yarn Merchants Association (PYMA) Senior Vice Chairman Sohail Nisar said that the polyester filament yarn (5402.4700), polyester textured yarn (5402.3300), … Read more
PYMA Chairman Saqib Naseem, Sindh Balochistan Region Vice Chairman Muhammad Junaid Teli, Standing Committee on Budget, Taxation Chairman Farhan Ashrafi said that the 13 per cent customs duty has been imposed on polyester pre-oriented yarn (POY). They suggested that without any additional customs duty, it should be 7 per cent through SRO or tariff. “The … Read more
KARACHI: The United Panel has won the Vasavad Memon Anjuman election with a clean sweep, as Nadeem Salat has been elected as President of the body, a statement said on Friday. The other elected officials include Jabbar Ghaziani as Senior Vice President, Zubair Siddha as Vice President, Fasial Jankabir as General Secretary, Farhan Ashrafi and Hanif Pebble as joint secretaries … Read more
KARACHI: Saqib Naseem, central chairman of Pakistan Yarn Merchants Association (PYMA), has urged Adviser to the Prime Minister on Finance and Revenue Shaukat Tarin not to succumb to the pressure of the local manufacturers, and to reject any proposal for the imposition of regulatory duty on imports of polyester filament yarns, especially HS Code 5402.3300 … Read more
KARACHI: The Pakistan Yarn Merchants Association (PYMA) officials have expressed concern over the increase in the interest rates by the State Bank of Pakistan (SBP), despite the demands of the business community. They said the central bank has increased the interest rates by 150 basis points, and the news is circulating for another increase in … Read more
KARACHI: A delegation of the Pakistan Yarn Merchants Association (PYMA), led by its chairman Saqib Naseem, visited the International Trade and Industrial Fair in Karachi, a statement said. The delegation was welcomed at the stall of Diwan International and briefed by Muhammad Hussain Diwan, chief technology officer and Muhammad Mahad, national sales manager. Diwan deals … Read more
KARACHI: The Pakistan Yarn Merchants Association (PYMA) has sought the cooperation of the Karachi Chamber of Commerce and Industry (KCCI) in convincing the government for reducing the duties and taxes and abolish anti-dumping duty on polyester yarn, which is the main raw material for the textile industry and the Small and Medium Enterprises (SMEs), a … Read more
