ISLAMABAD: All Pakistan Textile Mills Association (Aptma) Chairman Tariq Saud has called on the government to take urgent measures to arrest the decline in the size of domestic cotton crop and immediately remove the 3% import duty on raw cotton.
He said the removal of duty was imperative so that raw material was available to the industry at competitive prices and it could play its role in contributing to the country’s economy, according to a press release.
The Aptma chairman also clarified that apprehensions of the Karachi Cotton Association and the Cotton Association of India about cotton trade between the two countries were misplaced.
In view of the sharp decline in cotton harvest in Pakistan, the textile industry has imported over three million bales and a significant portion has come from India.
He pointed out that thousands of bales were stuck at the Wagah border for which the millers had made payments, but the government could not settle the issue. He urged the government to immediately order the release of this cotton that had entered Pakistani territory.
The Aptma chairman underlined the importance of keeping the free trade regime intact and free from all interferences as it was expected that Pakistan would continue to meet its requirements from the import of cotton.