APTMA suggests withdrawal of custom duty and sales tax on the import of cotton and polyester staple fibre

Related Keywords: cotton and Polyester Staple Fibre, cotton crop, Cotton Yarns, import levies, raw cotton, spinning industry, Textile Industry

Lahore
Summary: 
The APTMA spokesman has expressed alarm over the cut of regulatory duty on the import of cotton yarns from 10% to 5. The duty was charged to restrict strident increase in import of undervalue and subsidized cotton yarn entering in our domestic commerce. APTMA spokesman termed it as contrary to the cascading principle of tariff, saying that the domestic spinning industry is fighting for its survival as both its major raw materials i.e. cotton and Polyester Staple Fibre are strained with the imposition of import levies despite shortage in domestic production.

The APTMA spokesman has expressed alarm over the cut of regulatory duty on the import of cotton yarns from 10% to 5. The duty was charged to restrict strident increase in import of undervalue and subsidized cotton yarn entering in our domestic commerce. APTMA spokesman termed it as contrary to the cascading principle of tariff, saying that the domestic spinning industry is fighting for its survival as both its major raw materials i.e. cotton and Polyester Staple Fibre are strained with the imposition of import levies despite shortage in domestic production.

https://nation.com.pk/19-Oct-2018/aptma-urges-govt-to-withdraw-st-on-cotton-psf-import
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