PYMAPakistan Yarn Merchants' Association
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In a statement issued on Tuesday, PYMA Chairman Muhammad Saqib Goodluck said that in a meeting with the Federal Board of Revenue (FBR), it was agreed that only 1pc withholding tax would be imposed on yarn.
For more information, contact:Secretary General,Pakistan Yarn Merchants Association (PYMA)Business Centre, 8th Floor, Dunolly Road,Karachi - 74000, PakistanTel: +92-21-32410320Fax: +92-21-32424896Email:
Central chairman PYMA , Khurshid A Shaikh, zonal chairman Muhammad Aslam Moten and zonal vice-chairman Muhammad Khalid Gader have expressed their pleasure and satisfaction over appointment of Dr Miftah Ismail and said that the new Advisor for Finance possess an in-depth understanding of issues faced by Trade and Industry.
The PYMA delegation also expressed their concern on levies of two percent value-addition tax as well as two percent sales tax on commercial importers and said that they were highly unjustified since 100 percent value addition would not only increase cost of doing business but would also facilitate misuse of value-addition.
In a statement issued on Tuesday, PYMA Chairman Khurshid A Shaikh argued that the domestic polyester filament yarn industry does not have sufficient capacity to fully meet the demand of polyester fabric industry.
National Tariff Commission (NTC) has been criticised by the Pakistan Yarn Merchants Association (PYMA) for imposing anti-dumping duties between 3.25% and 11.35% on import of polyester filament yarn (PFY) from China and 6.35% from Malaysia.
A spokesman of the PYMA said here on Sunday that two candidates Mohammad Nasir and Sheikh Mohammad Naeem submitted their nomination papers for the seat of Central Chairman of PYMA whereas two candidates Mohammad Farooq Allahwala and Waqar Nasir are expected to contest election against each other for the seat of Zonal Chairman.
All Pakistan Textile Mills Association (APTMA), Pakistan Yarn Merchants Association (PYMA) and Pakistan Cotton Ginners Association (PCGA) on Monday expressed dismay for not providing relief to these sectors.
KARACHI -- Pakistan Yarn Merchants Association (PYMA), while rejecting the new Valuation Ruling for Polyester Filament Yarn (PFY) which was a basic raw material of Textile Industry, has challenged the same under section 25-D Custom Act - 1969 and requested the relevant department to review the unjust decision.
FAISALABAD -- Chairman Pakistan Yarn Merchants Association (PYMA) Punjab and KPK Zone Sheikh Mohammad Qasim on Wednesday welcomed the reduction of 0.25% in interest rate on bank loans announced by the State Bank of Pakistan (SBP).
KARACHI, June 4 -- The decision by NA Standing Committee on Textile for three months restriction on holding yarn and raw cotton stocks will hurt these vital sectors of the economy, All Pakistan Textile Mills Association (APTMA) and Pakistan Yarn Merchants Association (PYMA) said Thursday.