PYMA rejects Valuation Ruling for PFY

Karachi, June 01, 2022: Saqib Naseem, Chairman Pakistan Yarn Merchants Association (PYMA), Muhammad Junaid Teli, Vice Chairman, Sind & Balochistan region, has Strongly rejected Valuation Ruling No. 1655 / 2022 Dated. 30.05.2022 which was issued on 31.05.2022 for Polyester Filament Yarn.

In a statement, PYMA office-bearers said that Director Valuation, Syed Fawad Ali Shah, did not consult all stakeholder, denied the PYMA actual Raw Material price determination which was submitted earlier & Issued the subject Valuation Ruling which is totally against Normal practice.

“Pakistan Yarn Merchants Association is a Major stakeholder of Polyester Filament Yarn & demanded for immediate withdrawal of VR # 1655 / 2022 and Director Valuation should call a meeting of all stakeholders & issue New / Revised Valuation Ruling of PFY as per past practice of Valuation Department”, PYMA office-bearers demanded.

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