APTMA Chairman condemn export of cotton from Pakistan to India
LAHORE, 20 JUNE (DNA) – All Pakistan Textile Mills Association (APTMA) strongly condemn the news item published in a section of press regarding export of cotton from Pakistan to India and said that it is the last nail on the coffin of the ailing textile industry.
In a statement issued to the press Chairman APTMA, Mr. Tariq Saud said that export of cotton from India in the absence of determination of crop size for the year 2016-17 is against the domestic textile industry. The failure of local cotton crop in 2015-16 by about 35 percent has already placed extra burden on the industry to import about 4 million bales of cotton to meet its consumption requirement, he added.
He said that the cultivation of cotton this year is expected to decline by approximately 25 percent which will ultimately decline the availability of cotton to the spinning industry compelling them to import cotton at 3 percent custom duty at import stage or otherwise exclude import of cotton from Custom Duty so that industry may remain competitive.
He urged the government to provide level playing field and stop export of raw cotton till the determination of size of cotton crop for the next season or otherwise remove 3% custom duty on import of cotton. DNA
Anjum Nisar believes only stability in country can overcome economic challenges
ISLAMABAD, MAR 3 /DNA/ – The Federation of Pakistan Chambers of Commerce and Industry’s BusinessmenRead More
Jordan keen to expand trade relations with Pakistan
ISLAMABAD, FEB 27 (DNA) – Maen Khreasat, Ambassador of Jordan visited the Islamabad Chamber ofRead More