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Pakistan Cotton Ginners Association stages protest against imposition of unfair taxes

Pakistan Cotton Ginners Association stages protest against imposition of unfair taxes

MULTAN: Pakistan Cotton Ginners Association staged protest against the imposition of unfair taxes by the government in financial year 2019-20 budget and demanded the government to impose import duty on the import of cotton.

Former President Pakistan Cotton Ginners Association Nawab Shehzad Ali Khan led the protest along with other members of PCGA and addressed with protesters that Pakistan’s 70% exports are agriculture-based including 67% textiles and cotton. He said that development of the agricultural sector and white gold (cotton) contributes almost 18 percent to the National GDP.

Government has imposed 10% General sales taxes (GST) on cotton ginners which will create financial burden for Cotton ginners in the upcoming days. He said government has passed a resolution on imposition of duty on import of cotton which was ignored by Advisor Razak Dawood and resulted in Rs 1800 -2000 price reduction in local market. The ministry of commerce continued to allow illegal import of cotton from Torkhum Border which has resulted into massive influx of diseases and insect pests.

Pakistan Cotton Ginners Association has asked government to provide relief in taxes for better production of cotton and proposed abolishing fuel adjustment charges on electricity, waiving off 2% General Sales Taxes on fertilizer and reducing electricity charges from Rs5.35 to Rs4.00, instead it was made more expensive to Rs6.85 per unit.

Pakistan Cotton Ginners Association demanded from government for the imposition of import duty on cotton import immediately and support price of cotton should be announced right away to encourage cotton growers. Protesters have also torched the cotton on the Nawan Shehar Chowk.