All Pakistan Textile Mills Association (APTMA) has hailed the decision of removal of 15 percent Regulatory Duty on yarn export by the Cabinet Committee on Textile.

Chairman APTMA, Shahzad Ahmed, on Tuesday welcomed the decision of the Cabinet Committee on Textile that the free market mechanism has to be implemented in its true spirit to enable the whole chain of textile industry to stand on their feet in a competitive environment.

Chairman APTMA appreciated the decision of the Committee that the government will not interfere in the free market mechanism as far as import and export is concerned. He said that we believe in free market mechanism and all players in the Textile chain should be provided a level playing field and there should be no interference in Business affairs and in the mechanism of demand and supply so that inefficiencies within each sector should be eliminated.

He further said that intervention in the working of market mechanism always works for the advantage of one sector and to the disadvantage of another. Shahzad Ahmed said that the expectation of the new cotton crop is optimistic and a bumper crop is expected this year. Any intervention in the free trade mechanism would very seriously jeopardize the prospects of the farmers, he added.