KCA seeks review in proposed tax on raw cotton import

Karachi

The Karachi Cotton Association has appealed government to review reported proposal regarding levy of duty and taxes on import of raw cotton.
In a statement issued here Wednesday KCA officials said 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.
Claiming that cotton import was crucial for the textile industry to meet the requirements of basic raw material, KCA officials said levy of any tax on imported cotton will considerably increase their cost of doing business.
It will make the local textile products uncompetitive in the international market, they said and urged the authorities to continue with free trading policy of cotton.—APP

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