APTMA Chairman condemn export of cotton from Pakistan to India
LAHORE, 20 JUNE (DNA) – ย 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
Related News
PSBA Elects New Leadership: Muhammad Munir Khanani appointed Chairman
KARACHI, OCT 4 /DNA/ – The Pakistan Stock Brokers Association (PSBA) held its Annual GeneralRead More
Usman Shaukat sworn in as RCCI President
๐๐๐ญ๐ก ๐๐๐ค๐ข๐ง๐ ๐๐๐ซ๐๐ฆ๐จ๐ง๐ฒ ๐จ๐ ๐๐๐๐ ๐๐๐ฐ๐ฅ๐ฒ-๐๐ฅ๐๐๐ญ๐๐ ๐๐ฑ๐๐๐ฎ๐ญ๐ข๐ฏ๐ ๐๐จ๐๐ฒ ๐๐๐๐-๐๐๐๐ ISLAMABAD, OCT 1 /DNA/ – The Oath Taking Ceremony of the newly elected officeRead More
Comments are Closed