Home / Knowledge / News / Textiles / Pakistan reimposes import duty & sales tax on cotton
Pakistan reimposes import duty & sales tax on cotton
17
May '17
In view of cotton import in large volumes in recent months, the Economic Coordination Committee (ECC) of the Government of Pakistan has approved reinstatement of import (customs) duty and sales tax on import of cotton. The decision, to be effective from July 15 this year, is expected to result in greater sowing and harvest of cotton in the upcoming season.
 
While customs duty will be levied at four per cent rate, sales tax would be imposed at five per cent rate.
 
“On a proposal by the Finance Division, the ECC approved the restoration of import duty and sales tax on import of cotton with effect from 15th July 2017,” an official statement said.
 
“The decision has been made to boost the confidence of domestic cotton growers during the upcoming sowing season,” said finance minister Ishaq Dar who chaired the ECC meeting.
 
The government has withdrawn levy of import duty and sales tax on cotton import nearly seven months back, after a decline in cotton production last season.
 
Pakistan, which has traditionally been among largest raw cotton exporters, has been importing cotton for the last two years to meet its domestic consumption of around 15 million bales. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: BekaertDeslee

Textiles | On 23rd Oct 2017

BekaertDeslee to expand North American facility

BekaertDeslee, one of the largest manufacturer of mattress textiles...

Courtesy: A&E

Textiles | On 23rd Oct 2017

A&E unveils Magic using Repreve sewing thread

American & Efird (A&E), a leading developer of industrial and...

Courtesy: Messe Frankfurt

Textiles | On 23rd Oct 2017

Over 4,000 exhibitors attend Intertextile Shanghai 2017

Another successful Intertextile Shanghai Apparel Fabrics has wrapped...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Nitesh Mittal

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

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Giorgio Mantovani
Corman S.p.A

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

Marten Alkhagen
Swerea IVF AB

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

Eric Scholler
Groz-Beckert

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

Pranav Mishra
Huemn

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

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

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

October 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.1%
No
12.7%
Skip
11.3%

Total Votes: 71

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
28.2%
Skip
9.9%

Total Votes: 71

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.9%
No
9.9%
Skip
4.2%

Total Votes: 71

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
76.1%
No
11.3%
Skip
12.7%

Total Votes: 71


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