LAHORE, Sept 4: The government has decided to reduce import duty on polyester staple fibre (PSF) to 3.5 per cent from existing 6.5 per cent.

“Prime Minister’s advisor on finance and economic affairs Dr Salman Shah assured us that duty on imported PSF will be slashed soon after ECC’s approval,” said Adil Mahmood, chairman, All-Pakistan Textile Association (Apta) after his meeting with the advisor.

He said the advisor promised to resolve all genuine issues of spinners.

“Dr Shah assured us that the government will take up the matter of three per cent duty on yarn exports to China and make efforts to get it abolished under the FTA. We have also been assured of positive movement on our demand to allow import of cotton from India via land route.

He also said that spinning industry’s issues with banks will be taken up at a meeting with bankers on Sept 13.