KARACHI: The Chairman of All Pakistan Textile Mills Association Tariq Saud urged that the 3 per cent import duty on raw cotton be immediately removed and urgent measures to be taken by the government to arrest the decline in the size of the domestic cotton and.
The removal of duty was imperative so that raw material is available to the industry at competitive prices and it can play its role in contributing to the country’s economy.
Chairman APTMA also clarified that the apprehensions of the Karachi Cotton Association (KCA) and the Cotton Association of India with regard to the export of cotton were misplaced. In view of the failure of the cotton crop, the textile industry has imported over 3 million bales and a significant portion has come from India.
The Chairman APTMA reiterated that thousands of bales were stuck at Wagha for which the mills have made payments and the government is not moving to settle this issue.
He urged the government to immediately order the release of this cotton which has entered Pakistan territory. APTMA believes in free trade and the Chairman underlined the importance of keeping this regime intact and free from all interferences as it is expected that Pakistan will continue to meet its requirements from import of cotton. Chairman APTMA expressed regret at the distorted perception of his earlier statement and once again reiterated that for removal of all import duties and taxes on the import of cotton so that cotton is able to flow freely.