INP-WealthPk
Second-hand clothing: duty removal to help benefit industry
June 22, 2023
Fozia Azam
The removal of regulatory duty on second-hand clothing is expected to contribute to the growth of the clothing industry in Pakistan, as used clothing is a significant source of revenue for the traders and retailers. Zulfiqar Ahmad, Media Coordinator and Public Relations Officer of Rawalpindi Chamber of Commerce (RCCI), said this while talking to WealthPK. “As announced in the Finance Bill 2023-2024, the 10 percent regulatory duty on the import of second-hand clothing will be eliminated, providing the much-needed relief to the low-income families,” he said. He termed the removal of regulatory duty a productive decision that will provide a huge relief to the middle and poor segments of society.
“This step will likely encourage more imports of quality second-hand clothing, thereby increasing the supply of affordable and sustainable clothing for the people living in poverty.” “Moreover, the industry also has the potential to reduce the carbon footprint by promoting the reuse and recycling of the clothing items,” he added. The RCCI public relations officer said the decision to remove the regulatory duty reflected the government’s commitment to alleviating poverty and increasing access to quality clothing for low-income households. “With the regulatory duty removed, the prices of second-hand clothing are expected to become more affordable, making them more accessible to the poor and marginalized communities,” he opined.
“Amid increasing inflation, the cost of new clothing is unaffordable for a large portion of the population. As a result, second-hand clothing has become a popular and affordable option for a large segment of society. “Further, the second-hand clothing industry has created a thriving market for the production of new clothing in many developing countries. The industry provides jobs for many people involved in collecting, sorting, and selling these items. With the removal of regulatory duties, the industry can thrive even more,” Zulfiqar Ahmad said.
Credit : Independent News Pakistan-WealthPk
