Pakistan Cotton Ginning Association opposes reduction of import duties on Indian cotton
The Pakistan Cotton Ginning Association (PCGA) recently stated that the government should adhere to all proposals on tariffs and taxes on cotton imports from India.
The Pakistani government has imposed a 10% tariff on imported cotton yarn and processed fabrics since November 2015. This regulation is mainly to protect domestic industries and curb the dumping of cheap raw materials from foreign countries, especially India.
In a statement released in Multan (a city in east-central Pakistan), PCGA President Nawab Shahzad Ali Khan expressed his attitude. He believes that for the sake of local farmers and ginners, business tax and cotton import duties should not be revoked. He said that if taxes and duties on Indian cotton imports are abandoned, it will have an impact on local growers and gins. It is expected that 1.5 million bales of cotton will not be sold by then, and he believes that the unsold cotton should be dealt with first. out of cotton stocks.
Khan also said that India has been importing cotton freely to Pakistan for four years, which has seriously damaged the development of domestic industry and agriculture. If farmers switch to other crops under this situation, it will have a huge impact on the cotton industry.
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