The Ministry of Commerce today suspended its earlier decision to withdraw the bonded facility for imports of 10-30 count cotton yarn and require importers to submit bank guarantees, pending further review.
In a letter sent to the National Board of Revenue (NBR) chairman today, the ministry said the decision had been suspended for further consideration. The ministry had asked the NBR on September 7 to withdraw the bonded facility for imports of 10-30 count cotton yarn, saying the move was aimed at protecting local industries while ensuring access to raw materials for genuine exporters
