Minimum price of cotton lint, seed fixed at Rs3000 per 40 kg by NA

YarnsandFibers News Bureau 2015-08-20 11:00:00 – Islamabad

The minimum intervention price of cotton lint and seed was finalized at Rs. 3000 per 40 kilograme for financial year 2015-16 on the recommendations of API, who stated that after considering 35 cost parameters, they have calculated that the cost of sowing 40 kg of cotton crop adds up to Rs.3000 by the National Assembly Standing Committee on Textiles on Wednesday.

During the meeting many options to support the cotton farmers were discussed. The meeting also agreed that the input items including general sales tax on fertilizer, pesticide, energy and fuel should be reduced to zero to protect local farmers.

A direct subsidy was also considered but when concerned departments presented a figure of Rs80 billion, the suggestion was discarded.

Trading Corporation of Pakistan Chief, presenting his case said that due to limited human resource his department cannot buy cotton across the country.

It was also recommended that considering the quality of local yarn, no import of thread should be allowed especially from India.

The committee rejected increase suggested by FBR and recommended that sales tax on value added textiles should be reduced to zero percent.

Ministry of Textile to forward the summary to ECC for its final approval, so that the farmer community can enjoy the benefit.

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