Govt to withdraw duty on yarn orders upto May 13

The government has agreed to end duty on the yarn export orders upto May 13, sources said. The deadlock between the committee constituted by the prime minister to review the duty on yarn exports and APTMA still persists as the committee yet to reach the final decision on the 15 percent regulatory duty. According to the sources the government has agreed to withdraw the duty over the yarn export orders placed upto May 13 and the decision might be notified soon. Meanwhile, Gauhar Ijaz, Chairman APTMA Punjab, has said the textile millers body doesnt back the export duty on yarn. The decision will wreck the spinning industry, he added.

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