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5pc ST: Ginners, millers to plead withdrawal with Bajwa

5pc ST: Ginners, millers to plead withdrawal with Bajwa

MULTAN: The representatives of Pakistan Cotton Ginners Association (PCGA) and Oil Mills Association will meet Federal Board of Revenue (FBR) Chairman Tariq Bajwa this week to plead for the withdrawal of 5 percent sales tax imposed on the cotton seed cake.

It is to be noted that both the associations had vehemently demanded the FBR chairman to withdraw the newly-imposed tax during his recent visit to Multan. At which Tariq Bajwa had assured them that their suggestions would be considered to provide them with relief very soon.

The Cotton Industry has been grappling with a severe crisis due to low prices of cotton in the International market and the expected decline in the cotton production due to recent flood.

It is to be noted that the Cotton Industry is one of the biggest industries in South Punjab as 60 percent people are associated with the agriculture besides the region produces unique quality of cotton.