Related Keywords: cotton market on Saturday, government’s decision, growers and ginners, local cotton already been lifted by spinners, timely decision, trading activity, very little quantity is left, withdraw duty and taxes on lint imports, witnessed slow down
Cotton market on Saturday witnessed slow down in trading activity following the government’s decision to withdraw duty and taxes on lint imports. This is a timely decision because much of the local cotton had already been lifted by spinners and very little quantity is left with growers and ginners.
Though world cotton prices are currently on the higher side, it seems that many buyers would like to exercise the option of imports after the government removed 4 percent customs duty and 5pc sales tax on lint imports.
