The Pakistan Yarn Merchants Association was established in 1960 in pursuance Companies act VII of 1913 (Now Companies Ordinance 1984) and Mr. S. Osman Ali, S.QA, CSP, Secretary to the Ministry of Commerce issued license no.49 on 21 st April 1960.
Certificate of Incorporation was issued on in favour of The Pakistan Yarn Merchants Association under the Companies act VII of 1913 (Now Companies Ordinance 1984) on 24th November 1960 by Mr. M.Y. Siddiqui, Registrar of Joint Stock Companies, Karachi.
Founder members
Mr. Ahmed Abdullah, Mr. Ahmad Adaya
Mr. Mohammad Ismail Ahmed, Mr. Suleman Dawood
Mr. Mohammad Siddique, Mr. A. Razzak Aziz
Mr. Zakir Mashhadi, Mr. Noor Mohammad Osman
Mr. Abdul Shakoor Naviwala
Objectives
Following are the key objectives for which The Pakistan Yarn Merchants Association was established.
1. To protect and promote in Pakistan and elsewhere the interest of merchants and dealers in Yarn of all grades, kinds and descriptions, including Cotton & Mercerized Yarn, Silk & Rayon Yarn, Woolen Yarn, Staple Fibre Yarn and all other Synthetic Yarns and to take all steps, necessary or advisable, for the protection and promotion of the trade in Yarns generally.
2. To create a spirit of co-operation and mutual help amongst the Members of the Association in all problems, which relate to the Yarn trade and to secure wherever possible, organized and/or concerned action on all subjects involving interests of Members.
3. To collect and circulate statistics and other information relating to the import, export or sale of Yarns of all grades, kinds and descriptions, and to print and publish any rate and price circulars, reports, books and leaflets that the Association may think desirable for the promotion of its objects.
4. To consult and communicate with the Federation of Pakistan Chambers of Commerce & Industry, Chamber of Commerce, Associations, and other Mercantile and public bodies in Pakistan and elsewhere and to promote measures for the protection and promotion of interests of trade, commerce and industry and /or persons engaged therein.
Hello Textile would like to thank the executive committee of P.Y.M.A namely Mr Usman Iqbal (Patron in Chief & Former Chairman), Mr. Sohail Nisar (Senior Vice Chairman) and Mr Saqib Goodluck (Former Chairman) for giving their valuable time and joining us for a brief session.
Hello Textile: How does PYMA stand for the betterment of such a vital industry? & what makes PYMA’s members different to those without PYMA?
PYMA: We are one of the premier yarn industry association and ready to play the role of a catalyst, driving all subsectors of the industry under one platform towards path of growth. Common industry challenges are being taken together for public advocacy.
The Government is giving due importance to the textile industry as it has the potential to perform in the larger interest of the economy. It is unfortunate for those not being its members. However, legislation is under process for all those not registered with the respective associations.
PYMA has been successful in achieving tangible results on issues confronted by the yarn industry, and thus its members are largely benefitted.
Hello Textile: How many members are registered with PYMA and what benefit do they get after becoming the members?
PYMA: As of now there are in excess of 650 members (Punjab & Kpk: 350+ whereas Sindh & Balochistan: 300+) registered with us. PYMA provides a wide range of services and support to their members. Some of the key benefits of being a member include:
1. PYMA represents the interests of their members and advocate for policies that benefit the industry as a whole.
2. PYMA provides members with access to valuable information, research, and resources that can help them stay informed and competitive.
3. PYMA provides a platform for members to connect and network with industry peers, potential customers, and suppliers.
4. PYMA offer training and educational programs to help members stay up-to-date with the latest trends and best practices in their industry.
5. PYMA promote their members and their products and services through various channels, including trade shows, conferences, and other events.
Hello Textile: How does PYMA collaborate with government and other stakeholders?
PYMA: We collaborates with various stakeholders, including the government, to promote the interests of their members.
They engage in advocacy and lobbying efforts to influence policy decisions and regulations that affect their industry. PYMA also work with academic institutions, research organizations, and other industry associations to share knowledge and resources and collaborate on projects and initiatives.
Hello Textile: What kind of role are trade associations playing for the betterment in Pakistan?
PYMA: Trade associations in Pakistan play a crucial role in promoting and protecting the interests of various industries and businesses.
These associations work to establish common standards and best practices, advocate for policies that benefit their members, and provide a platform for networking and collaboration among industry peers.
Hello Textile: How would you evaluate textile and garment industry performing presently as an earning member for country’s economy?
PYMA: The textile and garment industry has historically played a significant role in many countries' economies, particularly in developing nations. It has been a major source of employment, export earnings, and economic growth in several countries.
Textile industry is the mainstay of Pakistan’s economy. It accounts for around 9% of GDP, over 50% of merchandise exports and around 45% of the manufacturing sector workforce. Approximately 3.5 million direct labor force is employed by the textile industry.
Indirect employment and unorganized sector employment is not accounted for. Both Textile & Clothing sector performed very well last year and posted pronominal profits. In spite of all odds the Industry even posted profits last year.
The textile industry is confronted with the menace of energy supply disruptions. Challenges include both, energy security and affordability coupled with high interest rate and spiraling inflation.
We see a great potential for both textile and clothing industry, provided we are able to manage these challenges. we are confident that we can double our capacities and exports in the shortest possible time.
Hello Textile: What is your say of the 5pc RD that is imposed on Polyester Yarn by the Government? Do you think this will benefit the yarn manufacturers & traders?
PYMA: We (P.Y.M.A) together with other local trade bodies and associations rejected the ECC decision to impose 5 percent regulatory duty (RD) on polyester filament yarn because it was primary raw material of textile industry. We totally condemn this move because it will lead to the destruction of 800,000 power looms which are the
lifeline of textile industry.
We would also like to highlight here that local yarn manufacturers are not producing the required yarn and its total local capacity is estimated to be 35 percent only and still 65 percent goods are being imported.
On the other hand that there is already 11 percent customs duty on polyester filament yarn, and with 5% RD, the duty will be 16 percent while fabric is also subject to 16 percent duty.
So it is better to directly import finished fabric rather to import Yarn and pay the same amount of custom duty.
This will save time and money but at the same time it will have adverse effects on the domestic workforce & production and millions of workers will be unemployed, pushing around 2 million households into poverty.
