Staff Reporter
Karachi
Chairman of National Business Group of FPCCI, President Pakistan Businessmen and Intellectuals Forum and All Karachi Industrial Alliance, and former provincial minister Mian Zahid Hussain on Monday said following the cotton crop collapse the government should also allow duty-free import of cotton yarn to save the textile industry.
The government should waive five percent customs duty and five percent regulatory duty on import of yarn unless the new crop hit the market, he said.
Mian Zahid Hussain said that import of excessive quantities of cotton and yarn should not be allowed in the country to safeguard the rights of farmers, ginners, and textile millers.
Talking to the business community, the veteran business leader said that the area under cultivation for cotton is shrinking since 14 years.
