Sunday, November 28th, 2021
Home »Cotton and Textiles » Pakistan » APTMA for withdrawal of levies on cotton import
All Pakistan Textile Mills Association (APTMA) chairman Dr Amanulla Kassim Machiyara has urged the federal government for immediate tax relief to the import of raw cotton for supporting domestic industry. "The federal government should immediately withdraw the 3 percent Regulatory Duty, Additional Custom Duty of 2 percent and 5 percent Sales Tax levied on the import of raw cotton so as to enable the textile industry to meet its requirements," Amanullah demanded.

He said the latest cotton statistics from Pakistan Cotton Ginners Association (PCGA) and the domestic cotton prices show the current arrivals to be well short as compared to the corresponding period last year. "Raw cotton prices are now higher than import substitution and if this trend persists, the textile industry will be rendered uncompetitive directly impacting our exports", he added.

Copyright Business Recorder, 2019


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