Home / Knowledge / News / Textiles / KCA seeks waiver of duties, taxes on cotton import
KCA seeks waiver of duties, taxes on cotton import
05
Jul '16
The Karachi Cotton Association (KCA) has urged the government to waive all duties and taxes on import of cotton immediately to facilitate the local textile industry meeting their requirement of raw material from abroad amid shortage of commodity in the country.

The Pakistani textile industry has been compelled to import raw cotton from overseas markets to meet its demand requirement of basic raw material following the devastating crop failure in 2015-16 season when cotton output fell to 9.786 million bales, the KCA said in a statement on Monday.

“The industry wants to ensure contribution towards achieving the target of exports fixed by the government,” the KCA said.

“However, the increased taxes on imported cotton are not only translating to rise in cost of doing business of the textile sector, but also making such products costlier in the international market,” it added.

The textile industry pays three per cent custom duty and one per cent additional duty on import of cotton.

The KCA urged the government to ensure free trading policy in cotton i.e. free export and free import of cotton without any quantitative and qualitative restrictions.

The government needs to take concrete measures to increase cotton production in the years to come, the statement said. This would ensure that there would be ample surplus cotton available for the domestic consumptions as well as exports to keep the presence of Pakistan cotton in the international market and earn much needed foreign exchange for the country. The provision of export surplus will ensure international price of cotton to the Pakistani growers. (SH)

Fibre2Fashion News Desk – India


Must ReadView All

Ghana makes tax stamp compulsory on imported textiles

Textiles | On 27th May 2018

Ghana makes tax stamp compulsory on imported textiles

To curb illegal imports, Ghanaian authorities will put a tax stamp on ...

Courtesy: Vishal Mega Mart

Apparel/Garments | On 27th May 2018

Partners Group, Kedaara Capital taking over VMM

Partners Group, a private markets investment manager, and Kedaara...

Courtesy: Deckers

Apparel/Garments | On 27th May 2018

Deckers Brands sales soar 8.4% in Q4FY18

Deckers Brands, a global leader in designing, marketing and...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Rajiv Sirohi
Shara

‘Portugal is taking away a major share of the mill made sector.’

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


May 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search