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Pakistan : Duty free import of machinary demanded (September 21, 10)

Pakistan : Duty free import of machinary demanded

Nawab Shehzad, the Newly elected vice chairman, Pakistan Cotton Ginners Association of Punjab and Khyber- Pukhtunkhwa provinces has called upon duty free import of ginning machinery in the country. Talking to APP here on Saturday, he strongly protested against the proposed imposition of value added tax (VAT) to avoid furher destablization in the ginning industry.

He expressed the hope that by getting enough support of the councerned authorites, Pakistani products would make enough space in international markets to attract the buyers due to their best qualities. However, he said the need of the time is that government should adopt business friendly policies, particulary to facilitate small investors to spread their network of ginning production across the country.

“By reducing taxes from different stages including import of machinery to production of textiles, we can better flourish in international markets”, he remarked. He also stressed for reducing tariffs of electricity and gas, besides importing of modern machinery in the country.

The office bearers of cotton ginners association much grieved over the recent devastating flood that claimed hundreds of lives in the country. “In this calamity, the industry is already on the verge of destruction, therefore the rulers should introduce investors friendly policies to avoid further havoc”, he added.

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