Businessmen have hailed the withdrawal of 5% regulatory duty on the import of cotton yarn and stressed that it will help enhance value-added goods export from the country. In a statement on Wednesday, Faisalabad Chamber of Commerce and Industry President Engineer Hafiz Ihtasham Javed said that the government was taking effective steps on all fronts to create business friendly atmosphere and enhance national exports. “Textile exporters are anticipating a shortage of industrial input due to falling cotton production in the country,” he said. “Cotton crop has been severely damaged by torrential rains this year.” It was estimated that the cotton harvest would fall in the range of 6.5 to 8 million bales, he added.
Published in The Express Tribune, December 24th, 2020.
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