Islamabad, January 15, 2019: The federal government on Tuesday allowed duty free import of cotton to facilitate the export oriented textile sector.
Sources told Thebizupdate.com that the Economic Coordination Committee (ECC) of the cabinet has approved withdrawal of customs duty, additional customs duty, sales tax on import of cotton for five months.
They informed that ECC has allowed duty free import of cotton from Feb 1, 2019 to June 30, 2019 to ensure sufficient supply of cotton for the domestic textile industry.
It may be mentioned here that Pakistan’s textile sector exports contributes some 70 percent share in overall exports and for the last few months industry was seeking duty free import of cotton as domestically produce cotton production was not sufficient to meet the demand.
