PCGA opposes waiving off RD, tax on cotton import from India

Pakistan Cotton Ginners Association (PCGA) has strongly demanded that regulatory duty, sales tax and customs duty on the import of cotton from India should not be waived off and it must continue for the survival of local farmers as well as ginners.

The PCGA Chairman Nawab Shehzad Ali Khan said that Cotton economy was passing through the worst crisis of the history and they should avoid to benefit any stake holder at the cost of national economy and Prime Minister Nawaz Sharif should take notice of such proposals personally.

He warned that if the tax and duty was waived on the import of cotton from India then it would be detrimental to local growers and ginners whose 1.5 million bales are lying in unsold stock besides deprivation the government of millions of rupees of taxes. However it would be in the benefit of Indian farmers, ginners and importers.

Shehzad Ali Khan suggested that Government should wait till the disposal even a single bale of cotton lying in ginneries or standing in field.

Pakistan that witnessed increase in cotton imports mainly came from India that has been a major beneficiary of duty-free import of cotton yarn by Pakistan for about four years, which has badly hit the domestic industry and agricultural sector of the country under a well planned conspiracy.

India was provided huge subsidies in the form of duty drawback, interest rate concessions and infrastructure schemes for its cotton industry.
The exemption from customs duty, regularly duty and sales tax may hit the domestic industry hard as it drove down demand for local cotton and pushed lower prices paid to farmers. There would be a huge loss of cash crop if the farmers adopted other crops.

Recent Posts

Loftex promotes sustainability with innovative towel collection

Loftex USA is strengthening sustainability with the launch of eco-friendly towel sets, blending innovative performance features with luxurious designs.

12 hours ago

Toray Industries produces sustainable acrylic fiber

Toray Industries, Inc. announced that starting this April, it will implement the mass balance approach in manufacturing its TORAYLON™ acrylic…

12 hours ago

Cxffeeblack, COMOCO Cotton develop sustainable t-shirt

Cxffeeblack has joined forces with COMOCO Cotton, a sustainable textile company, to create a special coffee-dyed T-shirt made from unbleached…

12 hours ago

Nikwax launches new standard in waterproof down technology

Nikwax has unveiled its latest innovation, the Direct.Dry Down line, setting a new benchmark in waterproof down with great performance…

1 day ago

Wrangler, Accelerating Circularity launch recycled cotton jeans

Wrangler x Accelerating Circularity jeans are proving that post-consumer and post-industrial cotton can be effectively reused in everyday clothing.

1 day ago

Bcomp, Tras introduce flax-based composites to moto racing

Swiss cleantech innovator Bcomp has partnered with Japanese composite specialist Tras to bring natural fibre solutions to the world of…

2 days ago