20000316

No decision taken

to impose duty

or restrict yarn

export

RECORDER REPORT

KARACHI: The Ministry of Commerce has not taken decision to restrict export of yarn or impose export duty, said a spokesman of the ministry of commerce on Wednesday.

"A delegation of bedwear exporters called on the minister for Commerce on March 13, and apprised him of the problems being faced by the value-added sectors due to the increasing prices of yarn in the domestic market.

"The commerce minister gave them a sympathetic hearing and assured that a solution that is in supreme national interest would be found in consultation with all the stakeholders. No decision either to impose a quantitative restriction or export duty on yarn was taken, and the desire to an open and market driven mechanism was discussed," the Spokesman clarified.

However, the chairman Bedwear Exporters Association (BEA) said the exporters were given assurance to either impose duty or restrict yarn export.

"But no decision was taken. There is no need to clarify an assurance. This is actually an outcome of the pressure being build by the strong yarn exporters lobby," said Shabir.