Home / Knowledge / News / Textiles / APTMA asks govt to remove import duty on cotton
APTMA asks govt to remove import duty on cotton
29
Jun '16
Expressing concern over the increase in cotton import duty to four per cent effective July 1, 2016, the All Pakistan Textile Mills Association (APTMA) has asked the government to immediately remove all duties and taxes on import of raw cotton.

In Federal Budget 2014-15, the government had levied one per cent import duty on cotton. This was followed by another one per cent duty in Federal Budget 2015-16 along with sales tax at five per cent. One per cent additional duty on import of cotton was imposed again through SRO 1178(I)/2015 dated November 30, 2015, taking the total duty to three per cent.

The Federal Budget 2016-17, to be implemented with effect from July 1, 2016, further increased custom duty by one per cent while keeping the one per cent additional duty intact, thus bringing the total duty to four per cent, APTMA chairman Tariq Saud said in a statement.

“This (1 per cent increase in duty) has come at a time when the textile industry is reeling from the effects of a total crop failure in the country. Production of cotton declined by almost 35 per cent,” Saud said.

Cotton is the basic raw material for the spinning industry, and it constitutes around 70 per cent of the total raw material cost. So, taking account of the current situation, the government must immediately restore the free trade regime in cotton trade, the statement said. (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Courtesy: Pexels

Textiles | On 19th Sep 2018

Punitive PRC tariffs on US goods has extra 5% on textiles

Responding to Washington’s latest duty increase in a dispute with...

Courtesy: Tecnorama

Textiles | On 19th Sep 2018

'Reliability & excellent quality are Tecnorama’s USP'

The complete reliability and excellent quality of Tecnorama systems...

Courtesy:  Stanislav Kondratiev on Unsplash

Apparel/Garments | On 19th Sep 2018

AAFA questions US tariffs on $200 bn Chinese goods

The American Apparel & Footwear Association (AAFA) has questioned...

Interviews View All

Kaizad Hansotia, GetNatty

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli, Epson, For.Tex & F.lli Robustelli

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Urmil Arya,

Urmil Arya

Sushila International, a well established textile organisation established ...

Abhishek Dhanuka,

Abhishek Dhanuka

Vyom International Pvt Ltd, established in 2002, is one of Surat's leading ...

Tejas N Patel, Navin D Patel,

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Robert Erichsen, Statex Produktions & Vertriebs GmbH

Robert Erichsen
Statex Produktions & Vertriebs GmbH

Statex Produktions & Vertriebs Gmbh, founded in 1978 and headquartered ...

Giulio Cesareo, Directa Plus SpA

Giulio Cesareo
Directa Plus SpA

Established in 2005, Direct Plus SpA, is one of the largest producers and...

Silke Brand-Kirsch, Schlegel und Partner

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Pranav Mishra, Huemn

Pranav Mishra
Huemn

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

Silvia Venturini Fendi, Fendi s.r.l

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Igor Chapurin, Chapurin

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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


September 2018

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

news category


Related Categories:

Advanced Search