The Economic Coordination Committee (ECC) took the decision of allowing the import of cotton with zero duties under the chairmanship of Advisor to Prime Minister on Finance and Revenue through the Torkham border.
To safeguard the rights of farmers, the duty-free import of cotton will be made effected from January 15, 2020.
The ECC was briefed that Cotton remained duty-free till the slab of 0% was eradicate in 2014-2015 and Custom Duty of 1% was enforced along with 5% Sales Tax.
Although trade with India is currently postponed by Pakistan, yet Afghanistan and the Central Asian states are more worthwhile economic sources for the import of cotton.
In comparison with the previous year, the cotton production for the next cotton season may be:
• 35% increase in readymade garments
• 6% increase in knitwear
• 14% in bed wear.