Karachi, September 27, 2019: Dr. Amanulla Kassim Machiyara, Chairman (Elect) APTMA has urged the Government to immediately withdraw the Regulatory Duty @ 3 percent.
Additional Custom Duty @ 2 percent and Sales Tax @ 5 percent levied on the import of raw cotton so as to enable the textile industry to meet its requirements and fulfil its export commitments made to the
Mr. Amanullah Kassim in a statement issued to the press said that the latest figures from PCGA and the domestic cotton prices show the current arrivals to be well short as compared to the corresponding period last year.
Raw cotton prices are now higher than import substitution and if this trend persists then the textile industry will be rendered uncompetitive directly impacting our exports.
In addition, the industry requires medium and longer staple cotton, contamination free cotton and organic cotton, all of which are not produced in Pakistan and mills need to buy this regularly to produce specialty yarns which remain in demand throughout the year. He said that immediate and urgent action was required to take stock of the situation and act without further delay.
He pleaded with the Prime Minister to order immediate removal of duty and taxes on import of cotton so that the textile industry could retain its competitive edge. APTMA remains committed to enhancing exports and assures the Prime Minister and his economic team of making concrete efforts towards this goal.