All Pakistan Textile Mills Association has (Aptma) has urged the government to decrease import duties and other taxes on the imports of raw cotton so the textile millers can cater to the shortage of local cotton. In a statement, Chairman Aptma Dr. Amanulla Kassim Machiyara requested the government to withdraw 3% regulatory duty, 2% additional customs duty and 5% sales tax on import of raw cotton.
He added that the local crop production in this season produced less cotton than required and the prices of cotton are already at par with the imported cotton prices. He said that the government has to withdraw these taxes or we would not be able to reach the export target of this year.
He added that the figures issued by the Pakistan Cotton Ginners Association (PCGA) had already indicated that the current year’s cotton production would be less than required. The government aimed to increase production this year by almost 15% but this target could not be met.