Home / Knowledge / News / Textiles / Pak fixes minimum price of cotton lint at Rs 3000/40 kg
Pak fixes minimum price of cotton lint at Rs 3000/40 kg
20
Aug '15
Pakistan's National Assembly Standing Committee on Textiles has unanimously agreed to fix the minimum intervention price of cotton lint and seed at Rs 3000 per 40 kg for the financial year 2015-16.

According to media reports, the price was finalised on the recommendations of API, who stated that after considering 35 cost parameters, they have calculated that the cost of sowing 40 kg of cotton crop adds up to Rs 3000.

During the meeting many options to support the cotton farmers were discussed. A direct subsidy was also considered but when concerned departments presented a figure of Rs 80 billion, the suggestion was discarded.

The head of the Trading Corporation of Pakistan Chief told the Standing Committee that due to limited human resource his department cannot buy cotton across the country.

“There are only 500 staff from grade one to Chairman, and we have to procure wheat and rice and sugar also. How can we procure cotton? However, we would procure cotton bales,” he said.

The meeting also agreed that the input items including general sales tax on fertilizer, pesticide, energy and fuel should be reduced to zero to protect local farmers. It was also recommended that considering the quality of local yarn, no import of thread should be allowed especially from India.

The committee rejected increase suggested by FBR and recommended that sales tax on value added textiles should be reduced to zero per cent. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Anshul Sood
Oceedee

‘Indian footwear market is nascent and largely a trend follower’

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

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
April 2017

April 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search