Pakistan trade body urges govt for duty-free Cotton imports

0
58

The All Pakistan Textile Mills Association (APTMA) has urged the government to immediately remove 4% customs duty and 5% sales tax on Cotton imports to help the spinning industry stay competitive.

APTMA also hailed the government’s decision of imposing a10% regulatory duty on Cotton yarn imports as the move expected to protect the local industry.

Pakistan’s Cotton yarn exports plunged by 32% year-on-year during the first 11 months of 2015-16, mainly due to non-availability of raw Cotton because of 35% fall in output and import duty of 4% and sales tax of 5% on imports, APTMA said.

LEAVE A REPLY