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Related Keywords: customs duty, Federal Board of Revenue, immediate relief as huge quantity of cotton, imports of raw and ginned cotton, notification states, stuck at ports for clearance, textile millers, textile sector will avail benefits, withdrawn sales tax

The Federal Board of Revenue (FBR’s) notification states that textile sector will avail the benefits on imports of raw and ginned cotton having withdrawn sales tax and customs duty on cotton imports on Tuesday in line with the government’s order, a move that was resented by the growers.

The tax concession would provide immediate relief as huge quantity of cotton is stuck at ports for clearance since the ECC’s decision, said Asif Inaam, zonal chairman of All Pakistan Textile Mills Association.

Related Keywords: APTMA, considering shortfall in local cotton output, cotton used to manufacture high value yarn, high added products, import of raw and ginned cotton, mainly exported in one form or another, propose duty and sales tax exemption, save domestic industry demand zero duty on import of manmade fibres, textile millers

The All Pakistan Textile Mills Association (Aptma) considering the shortfall in the local cotton output, urged the government on Monday to allow duty and sales tax exemption on import of raw and ginned cotton. As this cotton is used to manufacture high value yarn and in turn high added products, which are mainly exported in one form or another.

The textile millers also said that there should be no sales tax on raw cotton and ginned cotton at the import stage in order to avoid cumbersome procedure of the sales tax refund,

Related Keywords: APTMA, causing heavy demurrages, delayed permission to import cotton bales, held up at Wagha border, over delay in import of cotton bales, Pakistan textile industry hit, Pakistani commerce minister, remove the restriction on import of cotton bales, storage charges are piling up fast, textile millers, through land route at the Wagha border

A large quantity of cotton imported from India has held up with the border terminal at the Wagha, as Pakistani Commerce Minister Khurram Dastgir has delayed permission to import over 0.5 million cotton bales from India due to which it has hit the textile industry’s viability hard, said the textile industry sources.

Related Keywords: cotton fabric, cotton yarn, decline in overall textile exports, four hours a day basis, objecting the rate of LNG, Punjab based textile industry, quantitative terms, restore gas supply, SNGPL, spinners and weavers, Sui Northern Gas Pipelines Company Ltd, supply sixty MMCFD LNG, textile millers, USD nine per MMBTU

The Sui Northern Gas Pipelines Company Ltd (SNGPL) following the directions on Thursday from Federal Minister for Finance Ishaq Dar restores gas supply for four hours a day basis to Punjab based textile industry, said industry sources. The SNGPL would supply 60 MMCFD LNG at the cost of $9 per MMBTU against the industry demand from both spinners and weavers asking for LNG supply at the rate of $8.5 per MMBTU.

Related Keywords: APTMA, delay in announcement of textile package, fresh demand, high cost of doing business, impact on cotton procurement, labour layoff, liquidity crunch, permanent closure of units, supply chian disruption, textile millers, textile sector, to announce package

The delay in the announcement of textile package was having serious aftermath on the textile sector including permanent closure of units, labour layoff, impact on cotton procurement and supply chain disruption, said All Pakistan Textile Mills Association (Aptma) Punjab chapter chairman Aamir Fiaz Sheikh, accompanied by former central chairman S.M. Tanveer, at a press conference held on Saturday.

Related Keywords: cotton corporation of India, cotton export plan, Cotton Textiles Export Promotion Council, for cotton sales, increase quantity of cotton sale, into domestic market, put off global tender, release more cotton, Southern India Mills’ Association, textile millers, textiles minister

The Cotton Corporation of India (CCI) has taken decision to release more cotton into the domestic market since domestic market is picking up and not to go ahead with its plans to float global tender for cotton sales as it is likely to result in panic in the domestic market and could send out a wrong message, BK Mishra CMD, CCI informed.

CCI has been placing 50,000 bales on a daily basis for the past 10 days on board for e-auction and around 80-90% of this has been picked up by mills.