The Karachi Cotton Association (KCA) claiming that cotton import was crucial for the textile industry to meet the requirements of basic raw material said that levy of any tax on imported cotton would considerably increase their cost of doing business.
Hence, KCA seeks to review cotton import for which it has appealed the government to review reported proposal regarding the levy of duty and taxes on import of raw cotton.
KCA officials on Wednesday said that cotton crop failure in season 2015-16 and shortfall in cotton crop season 2016-17 had compelled most of the local textile mills to import raw cotton from abroad.
It will make the local textile products uncompetitive in the international market, and urged the authorities to continue with free trading policy of cotton.
Free exports and import of cotton without any qualitative restrictions in the coming years was said to safeguard the interest of all sections of the cotton business.
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